AU Evening Wrap: ASX Closes 0.7% Higher; EML Payments And MinRes Shares Rally

The $S&P 500 Index(.SPX.US)$ was up 0.7 per cent to 7197.6, with nine of the 11 sectors either flat or in the green. The All Ordinaries was also up 0.5 per cent. The tech sector was the worst performing, down just 0.3 per cent.

Shares in $BHP Group Ltd(BHP.AU)$ and $Rio Tinto Ltd(RIO.AU)$ closed 1 per cent higher, while $Fortescue Ltd(FMG.AU)$ gained 3.2 per cent.

It proved a good day for fintech and buy now pay later stocks. $Zip Co Ltd(ZIP.AU)$ jumped 4.6 per cent after reporting record transaction volumes and revenue for the year to June as consumers continue to use buy now, pay later even as spending across the economy softens. $EML Payments Ltd(EML.AU)$ and $Tyro Payments Ltd(TYR.AU)$, were also up 31.5 per cent and 14.7 per cent, on better than expected full-year results.

$Mineral Resources Ltd(MIN.AU)$ and $Sayona Mining Ltd(SYA.AU)$ were among the best performers, up 8 per cent and 26.4 per cent, respectively. In its latest full-year report, Mineral Resources upped its total dividend by 90 per cent to $1.90.

$The Star Entertainment Group Ltd(SGR.AU)$ lifted 2.1 per cent. The casino operator posted a $2.4 billion full-year loss and wiped more than $2 billion in value from its Sydney, Gold Coast and Brisbane casinos.

$Lark Distilling Co Ltd(LRK.AU)$ jumped 7.5 per cent. In its full-year earnings report, the Tasmanian whisky company swung to a loss but is pinning some of its turnaround hopes on a push into the Asian market with the appointment of sales director Alfred Goh.

Cement and concrete group $Adbri Ltd(ABC.AU)$ was down 14.6 per cent and won't be paying an interim dividend to shareholders even though it generated a 3 per cent lift in net profit to $49.7 million for the six months ended June 30.