In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and dropped into the red. At the time of writing, the benchmark index is down 1.2% to 7,616.6 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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Antipa Minerals Ltd (ASX: AZY)
The Antipa Minerals share price is up 8% to 47.5 cents. Investors have been buying the company's shares this week after it revealed that IGO Ltd (ASX: IGO) elected to withdraw from the Paterson Project farm-in agreement that was entered into in July 2020. This meant that Antipa Minerals retains 100% ownership of the project which fully surrounds the Minyari Dome Development Project area and its 2.3 million oz of gold and 83,500 tonnes of copper.
Imricor Medical Systems Inc (ASX: IMR)
The Imricor Medical Systems share price is up 9% to $1.48. This has been driven by news that the company has commenced the VISABL-VT clinical trial. This follows the completion of the first-in-human ventricular ablation guided by real-time interventional cardiac magnetic resonance (iCMR) with its NorthStar Mapping System. The procedure was successfully performed by the team at Amsterdam University Medical Centre (AUMC), ranked in 2025 by Newsweek as the best hospital in The Netherlands, and in the top 35 worldwide.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price is almost 2% to $7.85. This is despite the rare earths producer copping a downgrade from Bell Potter this morning. It downgraded its shares to a sell rating with a reduced price target of $6.50. It said: "Whilst we like the business, asset, and team, we believe there is significant optimism priced into the stock. Historically, LYC has responded to earnings revisions, however the market has looked through that for the past 12 months. We do not see risks to the balance sheet under our price deck, however a lower-for-longer NdPr price could draw attention."
Newmont Corporation (ASX: NEM)
The Newmont Corporation share price is up 4.5% to $82.65. Investors have been buying the gold miner's shares today following a strong rise in the price of the precious metal overnight. The buying was so strong that the gold price hit a new record high. Investors were buying it due to increased demand for safe haven assets and a lower than expected US inflation reading.
