AU Morning Wrap: ASX Falls; Origin Scrambles to Consider New Brookfield Proposal

The $S&P 500 Index(.SPX.US)$ rose 0.4 per cent on Wednesday, while the $Dow Jones Industrial Average(.DJI.US)$ added 0.5 per cent, or about 185 points. The tech-heavy $Nasdaq Composite Index(.IXIC.US)$ advanced 0.5 per cent, bringing its gains for the year to 36 per cent.

The benchmark $S&P/ASX 200(.XJO.AU)$ declined 0.3 per cent, or 22.8 points to 7050.6 at the start of the trade, weighed down by losses in the energy sector. The All Ordinaries lost 0.3 per cent.

$Santos Ltd(STO.AU)$ dropped 1.3 per cent and $Woodside Energy Group Ltd(WDS.AU)$ slid 0.8 per cent.

$Origin Energy Ltd(ORG.AU)$: Origin Energy has now entered into a trading halt. Canada's Brookfield and EIG Partners have submitted a lower price takeover offer for Origin Energy. The Financial Review revealed that the new bid, lobbed on Wednesday night, includes a Plan B that would see shareholders offered about $9.20 a share should a scheme vote fail.

$TPG Telecom Ltd(TPG.AU)$: TPG Telecom shares rallied 1 per cent after the company announced that its bought new licences in the 3.7 GHz spectrum band for $128.2 million.

Trading Ex-div: $ALS Ltd(ALQ.AU)$, $Cobram Estate Olives Ltd(CBO.AU)$