The S&P/ASX 200 Index (ASX: XJO) has followed Wall Streetâs lead and dropped into the red on Thursday. In afternoon trade, the benchmark index is down 0.3% to 7,324 points.
Four ASX shares that are not letting that hold them back are listed below. Hereâs why they are racing higher:
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price is up 10% to $20.87. Investors have been buying this corporate travel specialistâs shares after it announced a huge contract win. That contract is the Bridging Accommodation and Travel Services contract from the UK Home Office. Management estimates it to be worth nearly £1.6 billion in total transaction volume (TTV) over two years, which equates to approximately $2.99 billion Australian dollars.
Leo Lithium Ltd (ASX: LLL)
The Leo Lithium share price is up 5% to 51 cents. This follows the announcement of further high-grade drilling results from this lithium developerâs Goulamina project in Mali. Managing Director, Simon Hay, commented: “The latest set of results from our ongoing drilling campaign are again set to enhance the already high-quality Goulamina Resource.â
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is up 4% to $2.34. This has been driven by another rise in the gold price and the release of a bullish broker note out of Credit Suisse. In respect to the latter, the broker has upgraded this gold minerâs shares to an outperform rating with a $2.70 price target.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 3% to $6.94. This morning, analysts at Citi reaffirmed their buy rating on the coal miner’s shares following its guidance downgrade. And while the broker has trimmed its price target to $8.80, this still implies material upside from current levels.
The post Why Corporate Travel, Leo Lithium, Regis Resources, and Whitehaven Coal are charging higher appeared first on The Motley Fool Australia.
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More reading
- Could these 2 ASX 200 gold shares be index-beaters in the making?
- Why is this ASX All Ords travel share surging 10% today?
- This ASX 200 share could pay an 11% dividend yield in 2024
- 5 things to watch on the ASX 200 on Thursday
- Why Future Generation, Pilbara Minerals, Platinum, and Whitehaven Coal shares are dropping
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