AU Evening Wrap: Positive end to losing week as rate rises cast long cloud

The $S&P/ASX 200 (.XJO.AU)$ bounced 35 points or 0.47 per cent this session, not quite enough to reverse losses through the middle of the week.

An earnings upgrade lifted $Graincorp Ltd (GNC.AU)$ 5.75 per cent to an all-time high. Strong demand for Australian grain and favourable winter planting conditions prompted the firm to raise its underlying earnings outlook to $590-$670 million from previous guidance of $480-$540 million.

GrainCorp's news lifted other agribusinesses. Fertiliser and herbicide firm $Nufarm Ltd (NUF.AU)$ rallied 4.07 per cent. Rural services provider $Elders Ltd (ELD.AU)$ opened strong before trimming its advance to 0.46 percent.

Uranium miner $Paladin Energy Ltd (PDN.AU)$ jumped 13.13 per cent after the UK announced plans to build up to eight more nuclear reactors.

$BHP Group Ltd (BHP.AU)$ climbed 1.7 per cent after independent expert KPMG ruled the merger of its petroleum assets with $Woodside Petroleum Ltd (WPL.AU)$ was "fair and reasonable". The export's report increases the likelihood Woodside shareholders will back the proposed deal. Woodside shares fell 1.52 per cent.

S&P/ASX 200 Movers for Friday (4/8)