Indochine climbs

INDOCHINE Mining has surged in what was otherwise a mixed trading week for PNG-related stocks.

Its share price, which was in a trading halt this article was written today, was up nearly 70% for this week. Yesterday Indochine got a price query/speeding ticket from the ASX with the explorer revealing nothing, which is what makes the trading halt this morning even more interesting.

While there is a fair share of red across the watchlists, recent economic data from China, Europe and the US has been encouraging which could provide some more near-term relief for commodity prices.

London Metal Exchange cash copper closed at $6990.25 a tonne, up 2% from last Friday.

By the same time comparison, LME spot nickel was up a mere 0.3% to $13,822.5/t overnight.

Singapore Tapis crude closed at $115 a barrel last night - a gain of 1.3% since last Friday.

While there are signs that central bankers are back playing the global inflation game, spot gold prices have retreated from last week. They were around $1307.8 an ounce in the past hour. This is about 2% down from last Friday's close.

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