AU Morning Wrap: ASX Drops; Energy Stocks Surge

The $Dow Jones Industrial Average (.DJI.US)$ fell by approximately 1%, or almost 400 points, which prevented the index from reaching the critical 40,000 level. The $S&P 500 Index (.SPX.US)$ dropped by around 0.7%, and the $Nasdaq Composite Index (.IXIC.US)$, which is heavily focused on technology, also declined by almost 1%.

$Westgold Resources Ltd (WGX.AU)$, a Western Australia-based gold miner, has adjusted its full-year production guidance for the 2024 fiscal year to 220,000 to 230,000 ounces, with an all-in sustaining cost ranging from $2100 to $2300. In its latest quarterly production update, the company reported producing 52,100 ounces of gold, with an average sale price of $3137 per ounce.

$Mighty Craft Ltd (MCL.AU)$, a struggling craft beer company, has sold two assets, Mismatch Brewing and the 78 Degrees distillery business, for a total of $7.2 million in order to pay off its heavy debt levels. Approximately half of the proceeds will be used to pay the company's bankers, with the rest going towards keeping the business afloat.

$WiseTech Global Ltd (WTC.AU)$ non-executive director Teresa Engelhard will be stepping down from her position on the board. Engelhard, who was previously a member of the board at Origin, will retire from the ASX-listed technology company effective April 8th in order to focus on her personal business interests.

Trading Ex-div: $Lindsay Australia Ltd (LAU.AU)$, $Clime Capital Ltd (CAM.AU)$, $Eureka Group Holdings Ltd (EGH.AU)$, $ARB Corp Ltd (ARB.AU)$

Dividends Paid: $Lycopodium Ltd (LYL.AU)$, $Lifestyle Communities Ltd (LIC.AU)$, $Generation Development Group Ltd (GDG.AU)$, $Bega Cheese Ltd (BGA.AU)$