The S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has just fallen short. In afternoon trade, the benchmark index is down slightly to 8,732.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Fortescue Ltd (ASX: FMG)
The Fortescue share price is up 3.5% to $18.85. Investors have been buying the iron ore giant's shares following the release of its fourth quarter update. Fortescue delivered a record quarter of shipments for the three months, which underpinned record-breaking annual shipments of 198.4Mt in FY 2025. The latter was a 4% increase on FY 2024. Fortescue Metals and Operations Chief Executive Officer, Dino Otranto said: "Fortescue's performance this year has been exceptional. We delivered record quarterly shipments of 55.2 million tonnes, contributing to a record full year total of 198.4 million tonnes. We met all aspects of our market guidance and cemented our position as the industry's lowest cost producer, with our annual C1 cost declining for the first time since FY20."
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas Rare Earths share price is up 3% to $10.45. This follows the release of the rare earth producer's fourth quarter update. It reported gross sales revenue of $170.2 million, which was up strongly both quarter on quarter and year on year. This was driven by a significant increase in production. In addition, it separately announced an agreement with JS Link (Korea) to collaborate on the development of a new magnet manufacturing facility in Malaysia.
PEXA Group Ltd (ASX: PXA)
The PEXA Group share price is up 14% to $14.77. This morning, this property settlement technology company announced that its UK subsidiary and NatWest bank have formally committed to an implementation program to facilitate future remortgage and sale & purchase transactions on PEXA's platform. Management notes that this engagement marks a key milestone in the strategic partnership between PEXA and NatWest and represents an important step in its journey towards executing on its strategic goals in the UK.
Regis Healthcare Ltd (ASX: REG)
The Regis Healthcare share price is up almost 3% to $7.70. This follows news that the aged care provider has signed an agreement to acquire Rockpool RAC. It is a privately-owned residential aged care provider that owns four premium aged care homes in high demand locations across South-East Queensland with 600 operational beds.
