The S&P/ASX 200 Index (ASX: XJO) is falling again on Thursday. At the time of writing, the benchmark index is down 0.4% to 8,145.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price is up 9% to $12.89. This follows the release of a market update at its annual general meeting. The corporate travel specialist revealed that its Rest of World segment is on track to deliver on its target of revenue growth of approximately 10% and EBITDA margin expansion from 23% to 27.5%. It notes that this "implies significant profit growth versus the prior year." Given that this side of the business accounts for 80% of group revenue, it suggests that FY 2025 is going to be a positive year for the company.
JB Hi-Fi Ltd (ASX: JBH)
The JB Hi-Fi share price is up almost 6% to $82.33. This has been driven by the release of a sales update from the retail giant this morning. JB Hi-Fi revealed that FY 2025 has started positively. It recorded total sales growth for JB Hi-Fi Australia of 4.9% with comparable sales growth of 5%. Whereas JB Hi-Fi New Zealand's sales are up 19.6% (comparable sales up 2.7%) and The Good Guys has delivered 5.3% sales growth (comparable sales up 5%).
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is up 14% to $41.24. This follows the release of the mining and mining services company's quarterly update and a big oil and gas announcement. In respect to the latter, the company has agreed to sell its two oil and gas exploration permits in the Perth Basin to Gina Rinehart's Hancock Prospecting. Hancock will pay Mineral Resources a total cash consideration of up to $1.1 billion for the permits. Management said: "This transaction maximises the value of our exploration success for shareholders and again showcases our ability to unlock significant capital from MinRes' portfolio of assets."
Syrah Resources Ltd (ASX: SYR)
The Syrah Resources share price is up a further 5% to 29.5 cents. Investors have been buying this graphite producer's shares after announced a US$150 million (A$227 million) binding loan agreement with the United States International Development Finance Corporation. Management notes that this will fund the capital requirements at the Balama Graphite Operation and is aligned with the US Government's commitment to support development in Africa. Investors may also believe that this reduces the risk of a capital raising being required in the near future.
