The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and dropped deep into the red on Wednesday. In afternoon trade, the benchmark index is down 1.25% to 7,176.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is up over 1.5% to $20.68. This follows the release of an update from the travel agent giant this morning. Flight Centre revealed that its strong recovery from COVID continued during the third quarter. This culminated in the company delivering monthly total transaction value (TTV) of over $1 billion for the first time in March.
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo share price is up 7% to $13.61. Investors have been buying this lottery ticket seller's shares following the release of a trading update at an investor conference. Jumbo revealed that trading conditions have been kind and have resulted in lower than expected marketing costs as a percentage of sales.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 3% to $4.22. This may be related to the release of the lithium miner's corporate presentation after the market close on Tuesday. That presentation outlined the company's plan to grow its production capacity to 1Mt per annum by 2025 to "capture value and increase revenue."
Ramelius Resources Ltd (ASX: RMS)
The Ramelius share price is up 4.5% to $1.33. As well as getting a boost from a rising gold price, investors have been buying this gold miner's shares after it announced that it has gained control of Breaker Resources NL (ASX: BRB). The company now owns over 50.1% of Breaker's issued shares.
