AU Evening Wrap: Resource stocks shine; Walmart warning sinks retailers

The $S&P/ASX 200 (.XJO.AU)$ closed above 6800 for the first time in almost six weeks as a rebound in resource stocks accelerated.

Energy producers and miners led the advance, with support from BNPL providers and some of the banks. Retailers declined after a profit downgrade from US giant $Walmart (WMT.US)$.

Beaten-down BNPL players provided much of the sizzle as a recovery gathered pace. Last financial year's worst-performers have rebounded with the start of a new fiscal year. $Zip Co Ltd (ZIP.AU)$ soared 19.88 per cent. $Sezzle Inc (SZL.AU)$ gained 38.46 per cent. $Splitit Payments Ltd (SPT.AU)$ added 19.05 per cent.

Energy was the best-performing sector on both sides of the Pacific as crude reclaimed some of this month's losses. $Beach Energy Ltd (BPT.AU)$ rose 4.05 per cent, $Santos Ltd (STO.AU)$ 2.58 per cent and $Woodside Energy Group Ltd (WDS.AU)$ 2.77 per cent.

Gold miners fell after a cost warning from the world's largest gold producer. $Perseus Mining Ltd (PRU.AU)$ dropped 5.33 per cent, $Newcrest Mining Ltd (NCM.AU)$ 3.11 per cent and $St Barbara Ltd (SBM.AU)$ 1.1 per cent.