The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Tuesday. In afternoon trade, the benchmark index is down slightly to 7,215 points.
Four ASX shares are not letting that hold them back today are listed below. Here's why they are rising:
Challenger Ltd (ASX: CGF)
The Challenger share price is up over 2% to $6.27. This follows the release of the annuities company's investor day update this morning. At the event, the company revealed that it expects its normalised profit to be above the midpoint of its guidance range of $485 million to $535 million in FY 2023.
Global Lithium Resources Ltd (ASX: GL1)
The Global Lithium share price is up 2% to $1.43. Investors have been buying this ASX lithium developer's shares after it released an update on lithium grades at the Manna project. According to the release, ore sorting trials have resulted in a 90% increase in the lithium grade (Li2O) that was reported in the preliminary test work. In addition, there was an impressive 93% reduction in iron (Fe2O3) from the mixed waste and pegmatite sample.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up a further 9% to 92.5 cents. This lithium developer's shares have been on fire this week after it announced a strategic placement and cooperation agreement with Ganfeng Lithium. This will see Ganfeng pay $106.1 million for 131 million new Leo Lithium shares. This was a 12% premium to the prevailing Leo Lithium share price.
Qantas Airways Limited (ASX: QAN)
The Qantas share price is up 2% to $6.55. This morning, this airline operator held its first investor day since the pandemic. At the event, the company spoke positively about the future and the sustainability of its earnings.
