The S&P/ASX 200 Index (ASX: XJO) is having a tough session on Thursday. In afternoon trade, the benchmark index is down 0.4% to 7,284.9 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
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Allkem Ltd (ASX: AKE)
The Allkem share price is up 4% to $11.77. This appears to have been driven by speculation that the lithium miner could be a takeover target. A source told The Australian that Rio Tinto Ltd (ASX: RIO) "could make a play" for Allkem. Now could be a good time for Rio Tinto to pounce, according to the source, given the lower lithium prices.
Blackmores Ltd (ASX: BKL)
The Blackmores share price is up 22% to $93.61. This follows news that the health supplements company has accepted a takeover offer from Japan's Kirin. The two parties have entered into a scheme implementation deed that will see Kirin acquire 100% of Blackmores' issued share capital for $95 per share. This is less any special dividend declared prior to its implementation.
Helloworld Travel Ltd (ASX: HLO)
The Helloworld share price is up 9% to $2.93. Investors have been buying this travel booking company's shares following the release of a trading update. Helloworld revealed that on a continuing operations basis, its underlying EBITDA for the third quarter was $14.2 million. This is up from an underlying EBITDA loss of $4.9 million in the prior corresponding period.
Resolute Mining Ltd (ASX: RSG)
The Resolute Mining share price is up 3% to 45.2 cents. This follows the release of the gold miner's quarterly update. That update revealed that St Barbara delivered its sixth successive quarter of production growth and a reduction in its all-in sustaining cost.
