AU Evening Wrap: ASX falls 0.5pc despite Origin, Perpetual rally

The $S&P/ASX 200 (.XJO.AU)$ declined 35 points or 0.5 per cent. The loss broke a run of advances that had lifted the index more than 2 per cent since last Thursday.

$Origin Energy Ltd (ORG.AU)$ soared 34.77 per cent to a 21-month high following a takeover offer. Canada's Brookfield Asset Management and private-equity firm MidOcean Energy gained the support of the board after twice increasing indicative, non-binding conditional proposals in private discussions with the company.

$Perpetual Ltd (PPT.AU)$ rose 14.82 per cent to $33.40 after knocking back a revised offer from a consortium including Regal Partners and a private equity fund. The consortium raised its indicative proposal from $30 to $33 per share. Perpetua's board said the proposal was "not in the best interest of its shareholders".

An earnings upgrade lifted share registry $Computershare Ltd (CPU.AU)$ 4.12 per cent.

$News Corp (NWS.AU)$ reversed much of yesterday's double-digit decline, bouncing 8.72 per cent after a restrained US reaction to the media group's interim result.

$BHP Group Ltd (BHP.AU)$ fell 1.51 per cent as the company talked up progress in extracting more value from its mines. $Woodside Energy Group Ltd (WDS.AU)$ fell 2.34 per cent as the energy market continued to give up gains fuelled last week.

$Xero Ltd (XRO.AU)$ plunged 10.85 per cent to a two-and-a-half year low after reporting a NZ$16.13 million half-year loss and the departure of CEO Steve Vamos.