AU Morning Wrap: ASX Flat; Energy Stocks Rally on Oil Price

The $S&P 500 Index(.SPX.US)$ finished the week down 1.5 per cent, snapping a nine-week winning streak, while the $Dow Jones Industrial Average(.DJI.US)$ slipped 0.6 per cent. The tech-heavy $Nasdaq Composite Index(.IXIC.US)$ declined 3.2 per cent.

The $S&P/ASX 200(.XJO.AU)$ is largely flat near 7491. The All Ordinaries is also largely unmoved.

With the majority of sectors pointing lower, energy stocks are buoying the benchmark, following a rally in the price of oil during trading in the US on Friday. Oil and gas giant $Woodside Energy Group Ltd(WDS.AU)$ is 1 per cent higher at $31.64.

Uranium stocks are among the best performing on the benchmark: $Boss Energy Ltd(BOE.AU)$ is 9.6 per cent higher at $4.63 and $Paladin Energy Ltd(PDN.AU)$ has jumped 4.6 per cent to $1.06.

$GQG Partners Inc(GQG.AU)$: GQG Partners is up 2.4 per cent to 41.70 after reportedly pulling in $US9.9 billion ($14.9 billion) to its funds during last year, bringing the wealth giant’s funds under management to a record $US120.6 billion ($179.6 billion).

$Red 5 Ltd(RED.AU)$: Red 5 is 3.6 per cent higher at 29¢. The miner says it's on track to hit the upper range of its FY24 guidance following another quarter of production from its King of the Hills project in WA.

$Metcash Ltd(MTS.AU)$: Metcash has tapped former Premier Investments CEO Richard Murray to be chief executive of its Total Tools Holdings business, following the exit of Paul Dumbrell. Shares are largely flat at $3.49.

$Whispir Ltd(WSP.AU)$: Whispir has slipped 2.7 per cent to 54.5c. The board of the takeover target and communications technology company has backed a buyout bid from Soprano over a rival bid from venture capital-backed Pendula.

Listing: $Kali Metals Ltd(KM1.AU)$