AU Evening Wrap: Stocks recover but pare early gains

The $S&P/ASX 200 (.XJO.AU)$ climbed 14.3 points or 0.21 per cent to 6842.9. The rally recouped less than a tenth of Wednesday's 181-point plunge.

Coal miners soared as benchmark Newcastle coal futures firmed 2.6 per cent. $Coronado Global Resources Inc (CRN.AU)$ rallied 9.14 per cent, $New Hope Corp Ltd (NHC.AU)$ 6.01 per cent and $Whitehaven Coal Ltd (WHC.AU)$ 4.6 per cent.

An overnight rebound in Brent crude helped energy stocks reverse yesterday's losses. $Woodside Energy Group Ltd (WDS.AU)$ climbed 4.3 per cent, $Santos Ltd (STO.AU)$ 3.51 per cent and $Beach Energy Ltd (BPT.AU)$ 3.33 per cent.

The big banks recouped much of yesterday's sharp declines. $ANZ Group Holdings Ltd (ANZ.AU)$ gained 3.44 per cent, $National Australia Bank Ltd (NAB.AU)$ 1.6 per cent, $Westpac Banking Corp (WBC.AU)$ 1.65 per cent and $CommBank (CBA.AU)$ 0.64 per cent.

Takeover target $Link Administration Holdings Ltd (LNK.AU)$ eased 0.85 per cent despite news the Foreign Investment Review Board has no objection to a proposed acquisition of the company by Canada's Dye & Durham.

$Tyro Payments Ltd (TYR.AU)$ announced Jon Davey will step up to CEO, replacing outgoing chief executive and Managing Director Robbie Cooke. Davey is currently head of Tyro's health business. The share price eased 3.75 per cent.

Donor management platform $Pushpay Holdings Ltd (PPH.AU)$ dived 9.77 per cent amid media speculation about the potential collapse of takeover discussions. The share price pared its fall after the firm released a statement saying it "remains in compliance with its continuous disclosure obligations" and would keep the market updated.

Lithium miner $Lake Resources NL (LKE.AU)$ fell heavily for a second day since reporting a dispute with a key partner. The share price dropped 12.74 per cent to a six-week low.

$South32 Ltd (S32.AU)$ sagged 7.41 per cent as its shares traded without the right to a bumper dividend.