The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. In afternoon trade, the benchmark index is down 0.6% to 9,013.1 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Image source: Getty Images
Adore Beauty Group Ltd (ASX: ABY)
The Adore Beauty share price is up 4.5% to $1.05. This has been driven by the release of a bullish broker note out of Bell Potter this morning. According to the note, the broker has upgraded the beauty retailer's shares to a buy rating with a $1.25 price target. Commenting on the upgrade, Bell Potter said: "We upgrade to a Buy recommendation following ABY trading at a far more attractive FY26e EV/EBIT multiple (~15x BPe numbers), with the stock having pulled back ~17% since initiating at 17-Sep, as well as the expectation of a positive trading update at the AGM on 21-Nov."
Iress Ltd (ASX: IRE)
The Iress share price is up 4.5% to $8.79. Investors have been buying this financial technology company's shares after it revealed further takeover interest. In an announcement before the market open, it advised that a number of parties are running the rule over the company. It stated: "To facilitate this engagement, Iress has, since the time of its previous update, made a virtual data room available to a number of additional parties under appropriate confidentiality agreements. The basis for engagement is that bidders are restricted from contacting certain former management (without Iress' consent)."
Jumbo Interactive Ltd (ASX: JIN)
The Jumbo share price is up a further 3% to $12.52. This online lottery ticket seller's shares have raced higher this week thanks to the announcement of a major acquisition. The team at Morgans has responded positively to the news. Yesterday its analysts upgraded Jumbo's shares to a buy rating with an improved price target of $15.90. The broker said: "The acquisition bridges the potential earnings gap from non-TLC revenue streams and accelerates JIN's strategic shift from slower-growing international B2B operations toward higher-margin B2C opportunities."
Newmont Corporation (ASX: NEM)
The Newmont Corporation share price is up 4% to $151.59. Investors have been buying Newmont shares after the spot gold price raced higher yet again overnight. It isn't just Newmont that is rising today. Most gold miners are rising in response to the news. This has led to the S&P/ASX All Ordinaries Gold index climbing 1.8% at the time of writing.
