In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is giving back some of yesterday's gain. At the time of writing, the benchmark index is down 0.55% to 7,065.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat share price is up 2.5% to $40.54. This appears to have been driven by a broker note out of Ord Minnett. Its analysts have upgraded the gaming technology company's shares to an accumulate rating with a $45 price target.
Galan Lithium Ltd (ASX: GLN)
The Galan Lithium share price is up 11% to 77 cents. Investors have been buying this lithium developer's shares after it announced an offtake agreement with mining giant Glencore. In addition, Glencore has offered to provide or facilitate a secured financing prepayment facility for US$70 million to US$100 million, subject to conditions precedent being met.
Graincorp Ltd (ASX: GNC)
The Graincorp share price is up 3.5% to $7.67. This has been driven by the release of the grain exporter's full-year results. Although the company reported a 34% reduction in net profit after tax to $250 million, this didn't stop it from paying a special dividend and announcing an on-market share buy-back of $50 million.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan Energy share price is up 6% to $2.74. This follows the release of the lithium explorer's bridging study results for the Zero Carbon Lithium Project. Vulcan CEO, Cris Moreno, commented: "This Bridging phase has delivered significant value improvements including a reduction in CAPEX and OPEX, while also increasing and streamlining our project definition."
