AU Evening Wrap: Holiday blues as shares hit two-month low

The $S&P/ASX 200 (.XJO.AU)$ slumped 106 points or 1.56 per cent to 6700. Today's close was the weakest since July 19.

Mining, tech and property stocks were the biggest drags as 10 of 11 sectors declined. The dollar touched a two-year low as part of a broader retreat from risk.

$Viva Energy Group Ltd (VEA.AU)$ jumped 4.56 per cent on news it will acquire the Coles Express network of convenience stores for $300 million. The deal makes Viva the operator of the largest fuel and convenience network in Australia with 710 sites. $Coles Group Ltd (COL.AU)$ shares eased 0.9 per cent.

$Pilbara Minerals Ltd (PLS.AU)$ climbed 1.02 per cent to an all-time high after securing US$6,988 per dry metric tonne at an auction of of lithium spodumene. The load of 5,000 tonnes attracted 22 bids.

$Link Administration Holdings Ltd (LNK.AU)$ slumped 3.78 per cent after the UK regulator slapped its UK subsidiary with a fine of £50 million ($85 million). The proposed fine follows the collapse of a fund administered by Link Fund Solutions Ltd. The penalty is in addition to a proposed restitution payment of £306 million. The payments have put a takeover offer for Link from Canada's Dye & Durham under threat.

Investment house $Washington H Soul Pattinson & Co Ltd (SOL.AU)$ rallied 4.96 per cent after increasing full-year group profit by 154.4 per cent to $834.6 million. The firm said its investments outperformed the All Ordinaries on a pre-tax basis by 20.2 per cent.

Engineering group $Monadelphous Group Ltd (MND.AU)$ eased 0.42 per cent after winning new contracts and contract extensions worth $160 million.