AU Morning Wrap: ASX Rises; Evolution Shares Sink 14%

The technology-heavy $Nasdaq Composite Index(.IXIC.US)$ added 0.3 per cent. In the $S&P 500 Index(.SPX.US)$, technology and consumer-discretionary shares failed to offset declines in utilities, energy, materials and real-estate stocks, and the broad index shed less than 0.1 per cent. The $Dow Jones Industrial Average(.DJI.US)$ fell 0.2 per cent, or about 80 points.

The benchmark $S&P/ASX 200(.XJO.AU)$ 0.4 per cent, or 25.1 points to 7087.6, buoyed by the consumer staples, healthcare and technology sectors.

$Endeavour Group Ltd(EDV.AU)$: Hotels and alcohol retailer Endeavour Group rallied 2.1 per cent. It forecasts earnings before interest and tax in its hotels division to grow more than $150 million over the next five years.

$Rio Tinto Ltd(RIO.AU)$: Rio Tinto fell 0.3 per cent after the mining giant put a $US6.2 billion($9.46 billion) price tag on its Simandou iron ore project in Guinea. Rio is holding an investor day in Sydney.

$Perpetual Ltd(PPT.AU)$: Perpetual shares climbed 4 per cent after it announced a strategic review of its corporate trust and wealth management business. The listed fund manager said in an announcement to the ASX, its started considering separating its corporate trust and wealth management businesses and creating a more focused asset management business.

$Woodside Energy Group Ltd(WDS.AU)$: Woodside Energy edged up 0.1 per cent after it signed a sales and purchase agreement with Mexico Pacific to purchase 1.3 million tonnes per annum, equivalent to approximately 18 cargoes per year, of liquefied natural gas for 20 years.

$Evolution Mining Ltd(EVN.AU)$: Evolution Mining shares tumbled 14 per cent. The miner said it raised $525 million after placing 138.2 million new shares to institutional investors at $3.80 a piece, as first reported by Street Talk.