More stocks in recovery mode

BETTER-than-expected US jobs figures and manufacturing data from Europe helped lift commodities and various PNG-linked stocks this week.

Spot gold is still languishing, trading around $US1244 an ounce in the past hour. This is an insignificant gain of a little more than $9 since last Friday.

Singapore Tapis crude closed at $111.32 a barrel overnight - up 1.5% from last Friday.

London Metal Exchange cash copper closed at $6954 a tonne last night. This was a 3.3% gain since last Friday, with the red metal starting to claw back recent losses.

By the same time comparison, LME spot nickel was up 0.8% to close at $13,752.5/t.

While it has not triggered any far-reaching market fallout at this stage, the finance and foreign ministers of debt-plagued Portugal resigned this week, with reports suggesting the Portuguese government could collapse.

There was a good spread of double-digit percentage gains across our watchlists this week. But perhaps the most notable performance was from Newcrest Mining, which gained almost 8% despite the struggling gold price.

InterOil shares are also continuing to slide in the absence of any news from its exclusive PNG talks with ExxonMobil.

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