The S&P/ASX 200 Index rose 1.2 per cent to 6863.5 points. Graincorp rose 7.9 per cent to $8.37 and EML Payments dived 35.7 per cent to 40.5¢.
Renewed concerns over wheat supply pushed Graincorp shares 7.9 per cent higher on Monday after Russia withdrew its support for a Black Sea grain export deal.as much as 7.7 per cent to $US8.93 a bushel at the return of trading on Monday. Graincorp shares closed at $8.37. They hit a record $10.72 on May 4.
BHP Group fell 0.3 per cent to $37.36, Rio Tinto 0.4 per cent to $88.20 and Fortescue Metals 0.4 per cent to $14.70.5.3 per cent to $US75.20 a tonne on the December contract, the lowest level since 2020. Later in the session, Singapore iron ore futures were down less than 2 per cent to $US77.85.EML Payments dived 35.7 per cent to 40.
RBC Capital Markets analyst Garry Sherriff is worried about the regulatory investigations pilling up at EML Payments, saying it creates uncertainty for investors: “EML’s largest revenue exposure is Europe [around 65 per cent group sales], which is where each of the investigations to date are occurring,” he said.
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