Three ASX Shares Defying Market Selloff: 29M, IMM, and IFL

July 22, 2024 03:56 PM AEST | By Team Kalkine Media

Google News:

Three ASX Shares Defying Market Selloff: 29M, IMM, and IFL — Image source: shutterstock

Recent News

Banking Gains Countered by Mining Weakness on the ASX 200

Financial Sector Rises Amid Rate Cut Optimism on the ASX 200

Energy Play in Focus: Beach Energy Ltd Activity Within ASX 200

Southern Cross Gold Moves Toward TSX Listing | ASX 300 & All Ordinarie...

The S&P/ASX 200 Index faced a challenging session on Monday, with the benchmark index down 0.58% to 7,925.20 points in afternoon trade. Despite the broader market downturn, some ASX shares managed to rise significantly. Here are three standout performers and the reasons behind their gains:

29Metals Ltd (ASX: 29M)

The share price of 29Metals Ltd surged over 5.41% to 39 cents. Investors reacted positively to the release of promising drilling results from the Capricorn Copper project. The three-hole drill program confirmed the continuity and orientation of a new mineralized zone east of the Mammoth orebody. CEO James Palmer highlighted the potential value to be unlocked at Capricorn Copper and the prospectivity of 29Metals' extensive Mount Isa inlier position, which spans approximately 1,900 square kilometers.

Immutep Ltd (ASX: IMM)

Shares of Immutep Ltd climbed over 1.69% to 30 cents following an announcement from the clinical-stage biotechnology company. Immutep received positive feedback from the US Food and Drug Administration (FDA) regarding its planned TACTI-004 Phase III trial. This trial will evaluate eftilagimod alfa (efti) in combination with Keytruda (Merck & Co's anti-PD-1 therapy) and histology-based platinum doublet chemotherapy for the treatment of first-line metastatic non-small cell lung cancer, regardless of PD-L1 expression. Management described this feedback as a crucial milestone in the late-stage development process for efti.

Insignia Financial Ltd (ASX: IFL)

Insignia Financial Ltd saw its share price rise nearly 5.25% to AU$2.50 apiece. The catalyst for this gain was the release of a positive quarterly update. Insignia reported a return to positive net inflows during the fourth quarter, with total net inflows reaching AU$189 million. This was supported by improved platform flows following the successful migration of MLC Wrap to Expand and continued momentum in the Workplace segment.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.