Why AGL, Digital Wine, REA Group, & Xero shares are charging higher

In late morning trade the S&P/ASX 200 Index (ASX: XJO) has given back its early gains and is tumbling lower. At the time of writing, the benchmark index is down 0.3% to 6,778.9 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

The AGL share price is up 2% to $10.38 after announcing plans to split into two businesses – New AGL and PrimeCo. New AGL will be Australia’s largest multi-product energy retailer, leading the transition to a low carbon future. Whereas PrimeCo will be Australia’s largest electricity generator, supporting the economy as the energy market evolves. Management believes the proposed separation will give each business the opportunity to…