Resources market shows small recovery

The stock market has had a boost after a small recovery in iron ore and crude oil prices.

A slight improvement from the ten year low in the iron ore price of US$46.70 gave hope to investors, with BHP gaining 29 cents to $30.74, Rio Tinto gaining 85 cents to $57.00, and FMG up 14.5 cents to $1.94.

Oil improved to its highest level in 2015 with US$53.98 per barrel, which strengthened Woodside by 70 cents to $35.07 and Santos up 31 cents to $7.41.

On Tuesday the SP/ASX200 sharply gained and fell just as quickly, losing 80 points, however the recovery has brought it back up to 5953 today.

However, the S&P ASX200 index for resources showed a loss of sentiment on the opening of trade this morning, with a loss of 44 points from close of 3431, with a slight recovery to 3400 by 11am.

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