In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record its third decline in a row. The benchmark index is currently down 0.6% to 7,151.3 points.
Four ASX shares that have not let that hold them back are listed below. Here's why they are rising:
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Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat share price is up 3% to $42.35. Investors have been buying the gaming technology company's shares after brokers responded positively to an analyst briefing. As well as confirming that it was performing in line with expectations, the company spoke very positively about the launch of its NFL poker machine offering.
Lithium Energy Ltd (ASX: LEL)
The Lithium Energy share price is up almost 6% to 63.5 cents. This morning, this lithium explorer released a drilling update from its flagship Solaroz Lithium Brine Project in Argentina. Management revealed the highest lithium grade to date from the upper aquifer at Solaroz has been encountered in Drillhole 7 at the northern Payo 1 concession.
Sims Ltd (ASX: SGM)
The Sims share price is up 1% to $13.94. This follows news that the company has signed an agreement to sell its 50% shareholding of international bioenergy and methane abatement company, LMS Energy, to Pacific Equity Partners. The transaction values Sims's 50% shareholding in LMS Energy at A$272.1 million.
Tuas Ltd (ASX: TUA)
The Tuas share price is up a further 2.5% to $2.15. Investors have been buying Tuas' shares this week following the release of its FY 2023 results. The Singapore-based telco reported a 50% year on year increase in revenue to $86.1 million and an improvement in its net loss. It also revealed plans to begin rolling out its own fibre broadband offering in the country in FY 2024.
