AU Evening Wrap: Big Australian sets pace as stocks rally

Mining heavyweight $BHP Group Ltd(BHP.AU)$ powered the share market to a ten-week high as shareholders cheered a record dividend and the second-largest full-year profit in the company's history.

A 4.09 per cent jump in the "Big Australian" helped lift the $S&P/ASX 200(.XJO.AU)$ 41 points or 0.58 per cent. The commodities giant accounts for roughly ten per cent of the Australian benchmark by index weighting.

Also piquing buying interest were a well-received trading update from app-maker $Life360 Inc(360.AU)$ and an improved takeover offer for seafood farmer $Tassal Group Ltd(TGR.AU)$.

Seafood farmer Tassal Group climbed 5.11 per cent after accepting an improved takeover offer from Canada’s Cooke Inc valuing the business at $1.1 billion. The firm entered a Scheme Implementation Deed under which shareholders will receive $5.23 per share, up from a previous offer of $4.67.

$Temple & Webster Group Ltd(TPW.AU)$ soared 29.77 per cent after beating profit expectations. The online furniture retailer reported an $11.97 million full-year net profit, down 14.2 per cent on last year but more than twice what the market expected. Revenues grew 31 per cent.

Volatility in investment markets knocked fund manager $Challenger Ltd(CGF.AU)$'s full-year net profit down 57 per cent to $254 million. Assets under management contracted 10 per cent to $99 billion. The share price slumped 10.11 per cent.

$James Hardie Industries PLC(JHX.AU)$ eased 0.87 per cent after housing market uncertainty and inflationary pressures prompted a guidance cut. The fiber cement supplier lowered its fiscal year adjusted net income guidance to US$730-US$780 million from previous guidance of US$740-$US820 million.

Buy now, pay later player $Sezzle Inc(SZL.AU)$ slumped 15.85 per cent after its half-year net loss blew out to US$43.1 million from US$30.4 million in the prior comparative period.