The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and dropped into the red on Thursday. In afternoon trade, the benchmark index is down 0.3% to 7,324 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are racing higher:
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price is up 10% to $20.87. Investors have been buying this corporate travel specialist's shares after it announced a huge contract win. That contract is the Bridging Accommodation and Travel Services contract from the UK Home Office. Management estimates it to be worth nearly £1.6 billion in total transaction volume (TTV) over two years, which equates to approximately $2.99 billion Australian dollars.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up 5% to 51 cents. This follows the announcement of further high-grade drilling results from this lithium developer's Goulamina project in Mali. Managing Director, Simon Hay, commented: "The latest set of results from our ongoing drilling campaign are again set to enhance the already high-quality Goulamina Resource."
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is up 4% to $2.34. This has been driven by another rise in the gold price and the release of a bullish broker note out of Credit Suisse. In respect to the latter, the broker has upgraded this gold miner's shares to an outperform rating with a $2.70 price target.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 3% to $6.94. This morning, analysts at Citi reaffirmed their buy rating on the coal miner's shares following its guidance downgrade. And while the broker has trimmed its price target to $8.80, this still implies material upside from current levels.
