In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.05% to 7,177.2 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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Block Inc (ASX: SQ2)
The Block share price is up almost 5% to $102.71. This follows a strong night of trade for the payments company's shares on Wall Street on Wednesday. Some investors may believe that Block's shares have been unfairly left behind during the recent tech rally. Its ASX-listed shares are now up only 4% over the last 12 months.
Delta Lithium Ltd (ASX: DLI)
The Delta Lithium share price is up 7% to 91.5 cents. This is despite there being no news out of the lithium explorer. However, it is worth noting that its shares have been racing higher recently thanks to strong drilling results from the Yinnetharra Lithium Project within the Gascoyne Lithium Province of Western Australia.
Redox Pty Ltd (ASX: RDX)
The Redox share price is up 2.5% to $2.38. Some investors may believe this chemicals company's shares are good value after tumbling following their listing earlier this week. Redox raised ~$400 million at $1.55 per new share. This gave the company a $1.3 billion valuation at listing.
Vista Group International Ltd (ASX: VGL)
The Vista share price is up 18% to $1.71. Investors have been buying this film industry software solutions provider's shares after it announced the commencement of an organisational transformation. This is expected to support its vision and strategy, drive greater client alignment, and deliver improved financial performance. In respect to the latter, the re-profiling of its capital expenditure aims to make Vista free cash flow positive during Q4 of 2024. This is a year earlier than previous guidance.
