AU Morning Wrap: ASX Rebounds Above 7800; Miners and Energy Stocks Gain

$NVIDIA(NVDA.US)$continued to carry the Nasdaq on its back, taking the index to anotherrecord closing highon Friday, even as other major indices take a breather.

$Nasdaq Composite Index(.IXIC.US)$ gained 0.3% to 16,454.42, while the $S&P 500 Index(.SPX.US)$ slipped 0.1% to 5,234.18. The $Dow Jones Industrial Average(.DJI.US)$ slid 0.8% to 39,475.90.

At the start of Monday's trading session, the Australian stock market is experiencing an upward trend, building on a 1.3% increase from the previous week, due to a flurry of takeover news affecting the index. The $S&P/ASX 200(.XJO.AU)$ has risen by 43 points to reach 7813.7 points, surpassing 7800 points again for the first time since nearly reaching an all-time high of 7850 points earlier this month.

In early trading, materials have increased by 0.5%, with gains from iron ore miners $BHP Group Ltd(BHP.AU)$, $Fortescue Ltd(FMG.AU)$, and $Rio Tinto Ltd(RIO.AU)$ driving the increase.

The best-performing sector is energy, with a 1.1% increase, led by oil and gas giants $Santos Ltd(STO.AU)$ and $Woodside Energy Group Ltd(WDS.AU)$, both with a 1% gain.

The $McGrath Ltd(MEA.AU)$'s board has given their support to a takeover proposal from Knight Frank and Bayleys.

A takeover offer has been presented to the oil and gas company $MMA Offshore Ltd(MRM.AU)$ by Cyan Renewables, a subsidiary of Seraya Partners.

Silvercorp's attempt to acquire Tanzanian miner $OreCorp Ltd(ORR.AU)$ has been unsuccessful, thereby allowing $Perseus Mining Ltd(PRU.AU)$, who was supported by the OreCorp board this morning, to proceed with their competing takeover bid.

Trading Ex-div: $NRW Holdings Ltd(NWH.AU)$, $Perenti Ltd(PRN.AU)$, $Cash Converters International Ltd(CCV.AU)$, $NAOS Emerging Opportunities Co Ltd(NCC.AU)$

Dividends Paid: $GR Engineering Services Ltd(GNG.AU)$, $Australian Finance Group Ltd(AFG.AU)$, $Teaminvest Private Group Ltd(TIP.AU)$