AU Morning Wrap: ASX Edges Up; Judo Surges 14%

The $Dow Jones Industrial Average(.DJI.US)$ added 0.4 per cent to 38001.81, a record. The $S&P 500 Index(.SPX.US)$ added 0.2 per cent, kicking off the week with another high, and the tech-heavy $Nasdaq Composite Index(.IXIC.US)$ added 0.3 per cent.

The benchmark $S&P/ASX 200(.XJO.AU)$ rose 0.3 per cent or by 19.8 points to 7496.40, led by gains in seven out of the 11 sectors in the green. The Australian dollar was down 0.4 per cent to US65.72¢.

$Karoon Energy Ltd(KAR.AU)$: Karoon Energy dropped 5 per cent after lowering its Brazil production guidance for calendar year 2024 to be in the range of 7.2 to 9 million barrels compared to the previous range of 8 to 10 million barrels. The company cited operational issues from its Bauna project in November 2023 as the reason for the revision.

$Coronado Global Resources Inc(CRN.AU)$: Coronado Global Resources rallied 2.5 per cent after it ended the December quarter with higher run of mine coal production, up 3.3 per cent at 6.1Mt, when compared to the prior period.

$Judo Capital Holdings Ltd(JDO.AU)$: Judo Bank shares jumped over 10 per cent when it recorded a profit before tax of $67 million, up 24 per cent for the first half of financial year 2024. The bank said in its latest trading update, the result was driven by continued above-system lending growth, strong net interest margins and minimal write-offs. Net interest margin was recorded at 3.02 per cent.

$Perseus Mining Ltd(PRU.AU)$: Perseus Mining boss Jeff Quartermaine says his $258 million takeover bid for African gold explorer OreCorp is "clearly" superior to the rival bid endorsed by directors of the target company.

$Viva Energy Group Ltd(VEA.AU)$: Viva Energy has booked a gross refinery margin of $US8.8 a barrel, according to its December quarterly update. The company cited a period of weaker regional refining margins and elevated crude premia as part of the reason for its GRM.

$Touch Ventures Ltd(TVL.AU)$: ASX minnow Touch Ventures said a subsidiary of Block Inc has sold a 19.9 per cent stake in the company. The majority of these shares, or 17.8 per cent, have been purchased by Gannet Capital.