AU Morning Wrap: ASX Sinks After Oil Plunges; Perpetual Jumps 11%

Major indexes wavered between small gains and losses before ending the session around their lows of the day. The $S&P 500 Index(.SPX.US)$ lost 0.4 per cent, while the $Dow Jones Industrial Average(.DJI.US)$ shed 70 points, or 0.2 per cent. The tech-heavy $Nasdaq Composite Index(.IXIC.US)$ fell 0.6 per cent.

The $S&P/ASX 200(.XJO.AU)$ opened 14 points, or 0.2 per cent lower, at 7169. The All Ordinaries is also 0.2 per cent lower.

$Perpetual Ltd(PPT.AU)$: Perpetual are 11.11 per cent higher at $26.40 after the firm formally rejected a $3 billion buyout proposal from investment conglomerate Washington H. Soul Pattinson to break up the funds business. Perpetual said the deal "materially undervalues" the company's various businesses. The stock jumped 6.3 per cent on Wednesday after Perpetual announced plans for a strategic review.

$Seven West Media Ltd(SWM.AU)$: Seven West Media is 2 per cent lower at 24.5¢ after CEO James Warburton announced he was stepping down from the WA media empire.

$GQG Partners Inc(GQG.AU)$: GQG Partners is 1.4 per cent higher at $1.50. The listed equities giant drew $US9 billion ($13.7 billion) of inflows to its strategies in November.

Trading Ex-div: $Hancock & Gore Ltd(HNG.AU)$, $Midway Ltd(MWY.AU)$