In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and on course to start the week with a decline. At the time of writing, the benchmark index is down 0.3% to 8,836.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
AMP Ltd (ASX: AMP)
The AMP share price is up 6% to $1.79. This follows news that AMP has reached agreements to settle legal proceedings with some insurers for amounts incurred in historical remediation programs which concluded in 2022. AMP notes that it sought recovery under its insurance policy of compensation and costs arising out of these historical remediation programs. To date proceeds totalling approximately $44 million have been received. But it may not end there. AMP remains in discussions with a number of other insurers in relation to these proceedings.
GenusPlus Group Ltd (ASX: GNP)
The GenusPlus Group share price is up 5% to $5.55. This morning, this specialist power and communications infrastructure and services provider won a major contract. According to the release, Alinta Energy has selected GenusPlus to complete the delivery of its 100MW/200MWh Battery Energy Storage System in Western Australia. The release notes the contract has a value of approximately $50 million.
St Barbara Ltd (ASX: SBM)
The St Barbara share price is up 2% to 39.75 cents. This follows the release of an announcement from the gold miner relating to permitting in Nova Scotia. St Barbara's managing director and CEO, Andrew Strelein, said: "We are very encouraged by the significant improvement in the permitting environment in Nova Scotia and, in particular, we have been encouraged by the progress made with the creation of the Large Industrial File Team to pool expertise within the regulator from across its regional offices."
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is up 3% to $98.01. There are a couple of potential drivers of this. The first is a good showing for tech stocks on Monday after the Nasdaq finished higher on Friday. The other driver could be news that WiseTech Global's founder has been selling shares. While insider selling is usually a bad sign, Richard White's share sales in the past have been viewed differently. That's because it is interpreted as a sign that the company is performing at least in line with its guidance at present.
