AU Evening Wrap: ASX Closes 0.2% Higher, Viva Energy Slumps 7.3%

The $S&P/ASX 200 (.XJO.AU)$ closed at the bell 0.2 per cent higher after trading in a narrow range ahead of US inflation data due out on Wednesday for insights on the Federal Reserve's interest rate path.

Fuel retailer and refiner $Viva Energy Group Ltd (VEA.AU)$ was the second-biggest laggard, down 7.3 per cent in the worst daily drop in a year, after Street Talk reported that Swiss-based Vitol was considering selling its Viva stake in a $500 million minimum block trade.

Shares in $Air New Zealand Ltd (AIZ.AU)$ reversed losses to end 0.7 per cent higher. It revealed thatissues with Pratt & Whitney engines could have a "significant" impact on the airline's schedule.

Takeover target lithium mining company $Liontown Resources Ltd (LTR.AU)$ eased 0.3 per cent after Gina Rinehart didn't rule out launching a bid to rival Albemarle's $6.6 billion acquisition plan.

Oil and gas company $Santos Ltd (STO.AU)$ fell 1.3 per cent. $Woodside Energy Group Ltd (WDS.AU)$ declined 1.5 per cent and $Beach Energy Ltd (BPT.AU)$ lost 3 per cent.

Shares in mining heavyweights extended early gains after iron ore futures climbed a six-month high. $Rio Tinto Ltd (RIO.AU)$ jumped 1.5 per cent, $BHP Group Ltd (BHP.AU)$ rallied 1.2 per cent and $Fortescue Ltd (FMG.AU)$ rose 1.7 per cent.

The major banks were mostly higher. $ANZ Group Holdings Ltd (ANZ.AU)$ ended the session flat.

Shares in almond grower $Select Harvests Ltd (SHV.AU)$ rallied 10.4 per cent after painting an optimistic outlook, forecasting a good 2024 crop that will quickly generate cash.