In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.5% to 8,223.4 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
ANZ Group Holdings Ltd (ASX: ANZ)
The ANZ share price is up 1% to $32.45. Investors have been buying ANZ's shares despite there being no news out of the big four bank. Though, it is worth noting that today is the final day that investors can buy its shares before they go ex-dividend for its final dividend of FY 2024. ANZ's board declared a final dividend of 83 cents per share, partially franked at 70%. This brought its full year dividend to $1.66 per share.
Block Inc (ASX: SQ2)
The Block Inc share price is up 11% to $126.48. This follows a strong night of trade for the payments company's shares on Wall Street. This may have been driven news that Piper Sandler has initiated coverage on the company with an overweight rating and US$83.00 price target. It believes that Block should benefit from a continued secular shift to electronic payments, as well as being on the forefront of innovation.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up 2.5% to $16.76. This may also have been driven by a broker note. This morning, Bell Potter reaffirmed its buy rating and $25.00 price target on the pharmaceuticals company's shares. It said: "We have updated our near-term forecasts to reflect the PRV sale timing and the assumption that NEU will internally fund multiple Phase 3 trials for NNZ-2591 over the next few years." It adds: "Roughly $10/share of our valuation is attributed to Daybue licensing income, hence our BUY recommendation is driven by a positive view on NNZ-2591."
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 4.5% to $3.10. This is despite there being no news out of the lithium miner. However, it is worth noting that lithium stocks rallied on Wall Street overnight. This appears to be rubbing off on locally listed lithium shares today. Investors may have been buying them on the belief that they have been oversold this month.
