AU Morning Wrap: ASX Hits 10-month High; KMD Tumbles 10%

All three major indexes started the session in the green and didn't look back. Led by Walgreens Boots Alliance and Caterpillar, the $Dow Jones Industrial Average (.DJI.US)$ rose 0.7 per cent, or 252 points. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ also edged 0.7 per cent higher, while the $S&P 500 Index (.SPX.US)$ rose 0.6 per cent.

The $S&P/ASX 200 (.XJO.AU)$ rose 0.5 per cent, or 36.6 points to 7525.7 at the opening bell, with all the sectors in the green. The All Ordinaries increased 0.5 per cent.

$KMD Brands Ltd (KMD.AU)$: KMD Brands, which owns the Kathmandu outdoor clothing brand, dropped over 9 per cent after it said sales have fallen 12.5 per cent below last year in its latest trading update. The said there was "ongoing weakness in consumer sentiment."

$Orica Ltd (ORI.AU)$: Explosives manufacturer Orica rose 0.7 per cent after it said it was going to acquire Terra, a Canadian sensors and data delivery company for $C505 million ($559.9 million.) Orica said it entered into a binding sale and purchase agreement with Vance Street Capital LLC to buy Terra on a cash free, debt free enterprise value basis.

$PEXA Group Ltd (PXA.AU)$: Electronic conveyancing platform PEXA declined 8.2 per cent following an update on its acquisition of UK business Smoove.

$Transurban Group (TCL.AU)$: In other company news, Transurban has appointed former National Australia Bank chief financial officer Gary Lennon to its board. The toll roads operator said Lennon will start in his position as a non-executive director from March 18.