The S&P/ASX 200 Index (ASX: XJO) is having a tough time on Wednesday. In afternoon trade, the benchmark index is down 0.95% to 7,532.1 points.
Four ASX shares that have avoided the selloff today are listed below. Here's why they are rising:
AMP Ltd (ASX: AMP)
The AMP share price has jumped 10% to $1.07. Investors have been buying the financial services company's shares following the release of its full year results. AMP reported a 6.5% increase in underlying net profit after tax to $196 million. It also revealed that a $295 million share buyback is in the works.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 11% to 20.5 cents. This is despite there being no news out of the lithium miner today. However, with its shares down by 80% since this time last year, some investors may believe that value is emerging. Alternatively, short sellers could be buying shares to close their sizeable positions.
Downer EDI Ltd (ASX: DOW)
The Downer share price is up almost 14% to $4.90. This follows news that the integrated services company has returned to profit growth during the first half of FY 2024. Downer reported a 1% decline in revenue but an 11.9% increase in underlying NPATA to $76.1 million. This allowed the company's board to increase its interim dividend by 20% to 6 cents per share.
IDP Education Ltd (ASX: IEL)
The IDP Education share price is up 9% to $22.11. This morning, this student placement and language testing company released its half-year results and revealed strong revenue and earnings growth. The latter saw its EBIT increase 25% to $159 million, which was comfortably ahead of the market's expectations for the half.
