The S&P/ASX 200 Index (ASX: XJO) is out of form again on Thursday. In afternoon trade, the benchmark index is down 0.3% to 7,500.8 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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Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 1.5% to $1.63. This follows a strong rebound in oil prices during overnight trade. Traders were buying oil in response to rising Middle East tensions and comments out of oil cartel OPEC.
SDI Ltd (ASX: SDI)
The SDI share price is up 4.5% to 79.5 cents. Investors have been buying this dental products company's shares following the release of a positive trading update. SDI revealed that it achieved a 3% increase in unaudited sales during the first half to a record of $52.1 million. In addition, its product margins increased by 5% thanks to further improvements in logistic costs and regional market and product mix.
WA1 Resources Ltd (ASX: WA1)
The WA1 share price is up 14% to $13.91 despite there being no news out of the niobium explorer. At one stage today, the WA1 share price hit a new record high. When it hit that level, its shares were up almost 850% since this time last year. Investors appear excited over the potential of its West Arunta project.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up almost 3% to $7.90. Investors have been buying Whitehaven Coal and other coal miners today after the price of coal charged higher overnight. This latest gain means that Whitehaven Coal's shares are now up almost 10% since this time last month.
