Gold down. Everything else up. In a nutshell that was the story of the stock market this week with upward moves by copper matched by equally interesting rises among graphite and nickel shares as well as stocks in that almost forgotten sector, rare earths.
End of financial year lethargy took a firm grip of the Australian stock market this week with the most significant event being fresh evidence of bets being placed on a big fall in the value of the Australian dollar,
Copper returned to centre-stage this week, not because of the price - which remained stuck at around $US2.50 a pound - but because of the third copper-asset acquisition by CopperChem, an arm of the $4 billion industrial conglomerate Washington H. Soul Pattinson
A flat week on the market was offset by a busy two days at what is arguably Australia’s most interesting resources conference, Resources Rising Stars (RRS) on the Gold Coast, an event which produced a surprise winner in an unofficial stock-market drag race.