In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.3% to 7,296.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
IGO Ltd (ASX: IGO)
The IGO share price is up over 2% to $14.59. This follows news that its non-executive chair has been topping up his position. Michael Nossal picked up 20,000 IGO shares through an on-market trade on Friday, bringing his holding to 75,000 shares. The chair paid a total of almost $280,000 for the parcel of shares.
Iress Ltd (ASX: IRE)
The Iress share price is up over 2% to $6.48. This also appears to have been driven by some insider buying. The financial technology company's non-executive director, Michael Dwyer AM, bought 2,000 shares on-market on Monday for $6.40 per share. The Iress share price is down 35% since this time last month.
Judo Capital Holdings Ltd (ASX: JDO)
The Judo Capital share price is up 3% to $1.06. Yet again, this may have been driven by insider buying. Judo revealed that its director, David Hornery, bought 10,000 shares on-market last week. This is one of a number of insider purchases in recent sessions. One of those saw its CEO pick up over 1 million shares on-market.
Lithium Energy Ltd (ASX: LEL)
The Lithium Energy share price is up 19% to 65 cents. Investors have been buying this lithium developer's shares after it released an update on the progress of the scoping study undertaken on its flagship Solaroz Lithium Brine Project in Argentina. Management also advised that it has been approached by multiple, major third parties active in the electric vehicle battery sector seeking strategic partnerships or investment opportunities.
