In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day in the red. At the time of writing, the benchmark index is down 0.4% to 7,046 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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AMP Ltd (ASX: AMP)
The AMP share price is up 6% to 90 cents. Investors have been buying this financial services company's shares after it announced the settlement of a class action. The proceedings challenged the validity of some of the changes made by AMP Financial Planning to its Buyer of Last Resort (BOLR) policy in 2019. AMP is paying $100 million to settle.
Kogan.com Ltd (ASX: KGN)
The Kogan share price is up 3% to $4.75. This follows the release of the online retailer's annual general meeting update. That update revealed that Kogan returned to year-on-year growth for gross sales during October. This is the first instance of year-on-year growth in monthly sales since January 2022.
Lovisa Holdings Ltd (ASX: LOV)
The Lovisa share price is up 2% to $18.64. This morning, analysts at Morgan Stanley responded to the retailer's trading update by retaining their overweight rating and $25.25 price target. This implies a potential upside of 35% for investors over the next 12 months.
Webjet Limited (ASX: WEB)
The Webjet share price is up 3% to $6.86. Investors have been buying this online travel booking company's shares after brokers responded positively to its half-year results. For example, Macquarie has retained its outperform rating and lifted its price target to $8.37. This suggests an upside of 22% for investors over the next 12 months.
