AU Evening Wrap: Peak inflation hopes help lift market

The $S&P/ASX 200(.XJO.AU)$ rose 16 points or 0.23 per cent as bond traders downgraded the likely top of this year's interest rate cycle.

This week's extraordinary recovery in the BNPL sub-sector hit fresh extremes today. Shares in $Sezzle Inc(SZL.AU)$ that traded at 20 cents last week hit 79 cents this afternoon, an intraday gain of more than 100 per cent. Trading was paused at 70.5 cents, a tidy rise of 95.83 per cent.

$Zip Co Ltd(ZIP.AU)$ jumped 20.98 per cent. $Splitit Payments Ltd(SPT.AU)$ gained 4 per cent.

$St Barbara Ltd(SBM.AU)$ firmed 3.33 per cent after meeting full-year production and cost guidance. Production increased 40 per cent last quarter, largely through improved grades and recoveries from weather and Covid staffing issues in the previous quarter.

$Silver Lake Resources Ltd(SLR.AU)$ gained 6.02 per cent after forecasting an 8 per cent increase in gold sales this financial year. The miner produced 65,844 ounces of gold last quarter and 235 tonnes of copper.

Retailers struggled for a second day after US giant $Walmart(WMT.US)$ warned higher food and fuel costs were forcing consumers to cut discretionary spending. Clothing retailer $City Chic Collective Ltd(CCX.AU)$ fell 5.06 per cent. $Harvey Norman Holdings Ltd(HVN.AU)$ dropped 0.29 per cent.