In late trade on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has slipped into the red. At the time of writing, the benchmark index is down 0.35% to 6,829.5 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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Karoon Energy Ltd (ASX: KAR)
The Karoon Energy share price is up 5.5% to $2.24. This follows the release of a positive update on the Bauna intervention campaign this morning. The company revealed that its second well intervention has been successful and oil production has increased strongly. Work has begun on a third well intervention.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price has continued its ascent and is up a further 6.5% to $3.94. A number of lithium shares are rising strongly today amid optimism over lithium demand and supply constraints. Pilbara Minerals was given a boost yesterday by a broker note out of JP Morgan. Its analysts upgraded the company's shares to an overweight rating with an improved price target of $4.10.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is up 2.5% to $2.23. This is despite there being no news out of the sports betting company. However, with the PointsBet share price down 37% in the space of a month, it is possible that some investors believe it has been oversold and created a buying opportunity.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 3.5% to $8.78. Investors have been buying Whitehaven Coal and other coal miners today after coal prices charged higher. This followed news that Russia has stopped pumping gas via the Nord Stream 1 pipeline to Europe, which is likely to lead to increased demand for coal in Europe.
