AU Evening Wrap: Energy Lifts ASX Higher, But Miners a Drag

The $S&P/ASX 200 (.XJO.AU)$ ended the session 0.4 per cent higher on Monday, in a subdued session due to the May 1 Labour Day holiday across Asia, with investors awaiting rate decisions by the Reserve Bank and the US Federal Reserve.

Takeover target $Origin Energy Ltd (ORG.AU)$ rallied 0.5 per cent following a sharp upgrade in its earnings outlook, thanks to a stronger-than-expected performance at the UK-based energy retail disrupter Octopus Energy and lower coal costs in Australia.

$Santos Ltd (STO.AU)$ jumped 2.3 per cent even as Papua New Guinea's national oil company Kumul Petroleum Holdings extended Santos' bid for the LNG project to August 31.

$Whitehaven Coal Ltd (WHC.AU)$ leapt 2.6 per cent and $New Hope Corp Ltd (NHC.AU)$ climbed 2 per cent.

Meanwhile, a discounted cash off-market takeover offer by Bretty Blundy's BBRC International left investors in retailer $Best & Less Group holdings Ltd (BST.AU)$ unimpressed, and the share price finished down 1.8 per cent.

$Transurban Group (TCL.AU)$ fell 0.5 per cent despite lifting its annual dividend guidance for the second time in six months.

$Deterra Royalties Ltd (DRR.AU)$ jumped 1.5 per cent after its royalty receipts for the three months to March jumped 32 per cent to $60 million.

$Adore Beauty Group Ltd (ABY.AU)$ tumbled 5.4 per cent following a revenue decline in the first quarter of the calendar year.

$Judo Capital Holdings Ltd (JDO.AU)$ rose 1.2 per cent after upgrading net interest margin guidance for the second half of fiscal 2023.