Two S&P/ASX 200 Index (ASX: XJO) shares are managing to swim against the retreating tide today.
At the time of writing, the benchmark Aussie index is down 0.8%, with many stocks catching headwinds out of both the United States and China.
But that's not holding back these two soaring ASX 200 shares.
Which companies are we talking about?
Read on!
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ASX 200 share leaps on positive update
The first ASX 200 share charging higher in today's sinking market is financial services company Insignia Financial Ltd (ASX: IFL).
The Insignia Financial share price is up 5.7% at the time of writing, with shares swapping hands for $2.52 apiece. That sees the Insignia Financial share price up 7% so far in 2024. The stock also trades on a juicy, unfranked, trailing dividend yield of 7.5%.
Investors are bidding up the ASX 200 share following the company's fourth quarter FY 2024 update.
Insignia achieved a return to positive net inflow over the three months, with total net inflows of $189 million. The company said this was supported by improved advised platform flows following the successful migration of MLC Wrap to Expand and continued momentum in Workplace.
And investors will have taken note of the likely positive impact this will have on full-year earnings.
"Pleasingly we expect to exceed our FY24 earnings guidance, driven by strong revenue supported by higher average FUMA, and the benefits of the optimisation program," Insignia Financial CEO Scott Hartley said.
Also bucking today's broader market sell-off
The second ASX 200 share leaping higher today despite the broader market pressure is financial technology company Iress Ltd (ASX: IRE).
The Iress share price is up 10.1% at time of writing, with shares trading for $9.92 apiece. That sees the Iress share price up more than 21% so far in 2024.
Today's positive momentum comes after the company announced it expects to achieve a "significant increase" in its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the first half of calendar year 2024 (H1 2024).
Management said it expects adjusted EBITDA in H1 2024 to fall in the range of $65 million to $67 million. That's some 50% higher than the $44 million reported in H1 2023.
The ASX 200 share noted that its "disciplined approach to cost management" and revenue in line with expectations have led to a significant improvement in operating leverage over the half year.
Iress will release its first-half results on 19 August.
