In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 8,403.8 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are climbing:
Mac Copper CDI (ASX: MAC)
The Mac Copper share price is up 20% to $18.64. This has been driven by news that the copper miner has accepted a takeover offer. Harmony Gold Mining Company Limited (NYSE: HMY) tabled an offer of US$12.25 (A$18.931) cash per share. This implies a fully diluted equity value of ~US$1.03 billion (~A$1.60 billion) and represents a 20.7% premium to its last closing price. The company said: "The MAC board unanimously recommends that MAC shareholders vote in favour of the Scheme, in the absence of a Superior Proposal." Several major shareholders with a combined holding of 20.1% have expressed their support for the deal.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is up almost 3% to $286.12. This follows a strong rise in the tech sector on Wednesday after a great night of trade on the tech-focused Nasdaq index. It isn't just Pro Medicus that is rising today. The S&P/ASX All Technology Index is up 1.5% at the time of writing.
Web Travel Group Ltd (ASX: WEB)
The Web Travel share price is up almost 13% to $5.27. Investors have been buying this business to business travel company's shares following the release of its full year results. Web Travel posted a 22% increase in total transaction value (TTV) with strong growth in all regions. And while its TTV margins weakened in FY 2025, they have now stabilised. Web Travel managing director, John Guscic, also revealed that FY 2026 has started strongly. He said: "We have had an exceptional start to FY26 trading with TTV up 37% and Bookings up 29% compared to the same period last year. We are targeting record EBITDA in FY26 and remain committed to delivering $10 billion TTV in FY30 at circa 50% EBITDA margins."
Yancoal Australia Ltd (ASX: YAL)
The Yancoal share price is up 2.5% to $5.37. This follows the release of the coal miner's annual general meeting update this morning. Commenting on the year ahead, management said: "So far in 2025, international coal indices have been under pressure. Fortunately, our large-scale, low-cost mines see us well positioned to ride out this downturn in the coal price cycle. Yancoal is in strong financial shape with about $1.8 billion of cash and no interest-bearing debt. We look forward to delivering on our 2025 operational guidance and continue to look for value adding opportunities to carry the company forward."
