In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and dropped deep into the red. At the time of writing, the benchmark index is down 1% to 7,551.4 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
5E Advanced Materials Inc (ASX: 5EA)
The 5E Advanced Materials share price is up 9% to 24.5 cents. This morning, this US-based boron and lithium company announced that it has officially begun mining operations at its 5E Boron Americas Complex with the start-up of the wellfield injection process.
Endeavour Group Ltd (ASX: EDV)
The Endeavour share price is up 3% to $5.39. Investors have been buying this drinks giant's shares after it announced the exit of its chairman, Peter Hearl. The BWS and Dan Murphy's owner's chair had been under pressure from activist shareholders to quit. He will step down following an orderly transition and once its new chair, Ari Mervis, obtains all necessary regulatory approvals.
Strike Energy Ltd (ASX: STX)
The Strike Energy share price is up 2% to 48.5 cents. This morning, Strike and Alinta Energy entered into a firm 100% take or pay gas sales agreement for a total of 3.4 PJ delivered into the Parmelia Gas Pipeline over two years starting in February 2024.
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is up 1% to $13.88. This appears to have been driven by the release of an update in relation to ongoing weather events across Australia. As of last night, approximately 19,000 claims have been received from customers impacted by the weather events. However, Suncorp expects to be within its natural hazard allowance of $680 million for the half year to December 2023.
