AU Morning Wrap: ASX Slips Ahead of CPI; Weebit Nano, Credit Corp Fall

Technology shares slipped as investors awaited earnings from industry heavyweights that have pushed the $S&P 500 Index (.SPX.US)$ to fresh records.

The benchmark index edged down 0.1 per cent Tuesday, while the $Dow Jones Industrial Average (.DJI.US)$ added 0.3 per cent, or 134 points, for a new record. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ fell 0.8 per cent, its worst day in almost four weeks.

The $S&P/ASX 200 (.XJO.AU)$ is 16.2 points, or 0.2 per cent lower at 7.584. The benchmark remains about 50 points shy of its all-time high reached in August 2021.

$Weebit Nano Ltd (WBT.AU)$: Weebit Nano is the worst performing on the benchmark, down 6.5 per cent to $3.61. In its latest quarterly report, the semiconductor tech developer said it expected no royalty payments 2024 as clients using its technology continued to ramp up to production.

$Champion Iron Ltd (CIA.AU)$: Champion Iron's December quarter results were boosted by record production and high iron ore prices. Shares are 5.3 per cent higher at $8.57.

$Credit Corp Group Ltd (CCP.AU)$: Credit Corp is 5.8 per cent lower at $16.63. The Australian debt collecting giant said it was on track to come in at the bottom end of its profit guidance, after posting a net loss in its most recent half-year.

$Origin Energy Ltd (ORG.AU)$: Origin Energy chief executive Frank Calabria pointed to fresh investments in large-scale batteries and UK affiliate Octopus Energy as validating the electricity and gas supplier's opportunity in renewables. Shares are 1.1 per cent higher at $8.39.

$Liontown Resources Ltd (LTR.AU)$: Lithium hopeful Liontown Resources says it remains in talks with the lending syndicate that withdrew a $760 million loan facility which was intended to help bring the developer's WA lithium project to fruition. Shares are 2 per cent lower at $1.01.

$IGO Ltd (IGO.AU)$: IGO has dipped 3.1 per cent to $7.49 after placing its Cosmos nickel project on care and maintenance, following a review of the mine’s prospects amid a deteriorating nickel price.

Trading Ex-div: $Mayfield Group Holdings Ltd (MYG.AU)$, $Incitec Pivot Ltd (IPL.AU)$

Dividends Paid: $PRL Global Ltd (PRG.AU)$, $Centuria Industrial REIT (CIP.AU)$, $Rural Funds Group (RFF.AU)$, $Australian Unity Office Fund (AOF.AU)$, $Centuria Office REIT (COF.AU)$