In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. The benchmark index is currently down 0.6% to 7,350.8 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:
EML Payments Ltd (ASX: EML)
The EML Payments share price is up over 21% to 90.5 cents. This follows news that the payments company is shutting down its troubled PFS Card Services Ireland Limited (PCSIL) business. Management advised that it will now be closed to new business and wound down in a professional and orderly manner. A liquidator has been provisionally appointed by the High Court of Ireland to begin the wind-down.
Mount Gibson Iron Ltd (ASX: MGX)
The Mount Gibson Iron share price is up 4% to 53.5 cents. Investors have been buying the iron ore miner’s shares following the release of its quarterly update. Mount Gibson revealed that quarterly ore sales revenue came in at $228 million for the quarter. This took its sales revenue for the first half of FY 2024 to $436 million. In addition, cashflow of $123 million was generated for the December quarter.
Nuix Ltd (ASX: NXL)
The Nuix share price is up 3% to $1.65. This is despite there being no news out of the investigative analytics and intelligence software provider. Though, it is worth noting that Nuix’s shares were sold off last week. Some investors may believe they were oversold and have been snapping them up today.
RAIZ Invest Ltd (ASX: RZI)
The Raiz share price is up 4% to 38 cents. This follows the release of the investment platform provider’s quarterly update. Raiz reported a 6% quarter on quarter increase in revenue to $5.47 million. Management also reiterated that it is on the path to positive EBITDA.
The post Why EML, Mount Gibson, Nuix, and Raiz shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Why is the EML share price rocketing 27% on Wednesday?
- Why Chalice Mining, Nuix, Pilbara Minerals, and Sayona Mining shares are falling
- Why A2B, Alumina, Healius, and Nuix shares are dropping today
- Why is this ASX All Ord share plunging 20% on Friday?
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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