AU Morning Wrap: ASX Drops, Tech Stocks Take the Brunt

The $Nasdaq Composite Index (.IXIC.US)$ closed -2.2%, the $S&P 500 Index (.SPX.US)$ finished -1.5% and the $Dow Jones Industrial Average (.DJI.US)$ ended -1.1%.

The $S&P/ASX 200 (.XJO.AU)$ has opened 0.88 per cent lower in the final session before Christmas, with rate sensitive tech stocks the hardest-hit.

$Endeavour Group Ltd (EDV.AU)$: The ACCC will not oppose the proposed acquisitions of the Beach Hotel and Tower Hotel by Endeavour Group Limited, after accepting a court-enforceable undertaking offered by Endeavour to divest its BWS Seaford bottle shop.

$Warrego Energy Ltd (WGO.AU)$: Hancock Energy's all cash offer of 28¢ for Warrego Energy is now unconditional. Hancock filed a fifth supplementary bidder's statement with the ASX on Friday and said it had freed the offer from all conditions.

$Regal Investment Fund (RF1.AU)$: Regal Investment Fund will pay a distribution for the half-year ended in December 2022 of 15¢ per unit. The final distribution, to be announced mid-January 2023, will reflect the income, including net realised capital gains.

$Retail Food Group Ltd (RFG.AU)$: The ACCC has accepted a court-enforceable undertaking from Retail Food Group in which RFG, the operator of many well-known franchising brands, has agreed to make payments to and waive historical debts of a number of affected current and former franchisees, in relation to the purchase of certain corporate stores by these franchisees.

$Syrah Resources Ltd (SYR.AU)$: Syrah Resources said Tesla has exercised its option to offtake an additional 17ktpa active anode material (AAM) from Syrah's US-based Vidalia facility.