The S&P/ASX 200 Index (ASX: XJO) has started the week deep in the red. At the time of writing, the benchmark index is down 0.7% to 6,945.3 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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Breaker Resources NL (ASX: BRB)
The Breaker Resources share price is up 31% to 38 cents. This follows news that the gold developer has accepted a takeover approach from Ramelius Resources Ltd (ASX: RMS). In the absence of a superior proposal, management and two major shareholders intend to accept the all-scrip offer which has an implied value of 40 cents per share.
Healius Ltd (ASX: HLS)
The Healius share price is up over 9% to $3.04. This morning, this healthcare company received a takeover approach from smaller rival Australian Clinical Labs Ltd (ASX: ACL). And while the offer is not at a premium, Australian Clinical Labs expects to create significant value for shareholders by merging the two companies.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up 8% to $11.75. Investors have been piling into gold miners today after the spot gold price closed in on the US$2,000 an ounce mark. This has been driven by demand for safe haven assets and optimism that the US Federal Reserve won't raise rates as much as previously expected due to the banking crisis.
Tietto Minerals Ltd (ASX: TIE)
The Tietto Minerals share price is up 12.5% to 63 cents. As well as getting a lift from a rising gold price, this gold miner made a positive announcement. Tietto revealed that it has completed process plant commissioning at its 100%-owned 4.5Mtpa Abujar Gold Mine in the Ivory Coast. Abujar is expected to deliver gold production averaging ~200,000 ounces per year over the first six years of production at a weighted average all in site cost (AISC) of ~US$800/oz.
