The S&P/ASX 200 Index (ASX: XJO) is out of form again on Tuesday. In afternoon trade, the benchmark index is down 1.65% to 6,992.1 points.
Four ASX shares that are not letting that hold them back today are listed below. Hereâs why they are rising:
Kingsgate Consolidated Limited (ASX: KCN)
The Kingsgate share price is up 10% to $1.61. Investors have been buying this gold minerâs shares for a couple of reasons. One is a rise in the gold price and the other is an update on the Chatree Gold Mine. The latter reveals that inspectors have given its Thailand-based mine the thumbs up for reopening.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is rising again and is up 11% to $10.08. Investors have been buying this biotech companyâs shares this week after its treatment for Rettâs Syndrome was granted US FDA approval. The company has a deal in place with its partner Acadia Pharmaceuticals (NASDAQ: ACAD) that could underpin significant royalty and milestone payments.
Newcrest Mining Ltd (ASX: NCM)
The Newcrest share price is up over 3% to $24.81. Investors have been buying this gold minerâs shares following a strong rise in the gold price. This was driven by demand for safe haven assets and has lifted the whole industry. For example, the S&P/ASX All Ordinaries Gold index is up almost 3% today.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price is up 2.5% to $1.16. This morning, this payments company revealed that it has given Pegasus Bidco another day to make an improved takeover offer. The suitor now has until 7pm New Zealand time on Wednesday to make its new proposal. This comes after shareholders rejected its previous offer at the start of the month.
The post Why Kingsgate, Neuren, Newcrest, and Pushpay shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Why has the Newcrest share price leapt 7% in under a week?
- Why is everyone suddenly talking about ASX 200 gold stocks again?
- Why are ASX 200 gold stocks like Northern Star having such a stellar run today?
- Why Neuren, Northern Star, Race Oncology, and Westgold shares are storming higher
- Guess which ASX All Ords stock is rocketing 27% on a new FDA approval
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