The S&P/ASX 200 (Index: ^AJXO) (ASX: XJO) traded a much as 1.3% higher at lunchtime, despite a reduced trading window ahead of the Christmas long weekend. However, shares of the following four companies were rampaging more than 4.5% higher.
- Liquefied Natural Gas Ltd (ASX: LNG) – up 11.5%
The Liquefied Natural Gas Ltd share price has been on a one-way ticket downwards in 2015, following steep declines in global oil prices. Liquefied Natural Gas Ltd shares peaked at $4.90 on May 1 this year but have since fallen 82%. The company didn't release any material news to the market today, but crude oil prices leapt 3.8% overnight and traders appear to have bought up the company's share price.
- Metcash Limited (ASX: MTS) – up 4.95%
Like Liquefied Natural Gas Ltd, Metcash shares have struggled throughout 2015. However, the owner of IGA, Foodworks, Mitre 10 and more has seen its share price rally some 50% since September. There was no company-specific data out to explain the company's share price rise today, except for a notice from National Australia Bank Ltd. (ASX: NAB) which showed the bank and its relevant holding companies lifted their shareholding in Metcash from 11.01% to 12.06%.
- BHP Billiton Limited (ASX: BHP) – up 5.12%
Following yesterday's rally, shares of Australia's largest mining company today snapped back into positive territory. The company has seen its share price fall 38% in 2015, as investors reacted to plunging commodity prices. However, sanguine news flow from the company's jointly owned Brazilian subsidiary, Samarco, yesterday appears to have restored investor confidence in 'The Big Australian'.
- Rio Tinto Limited (ASX: RIO) – up 4.95%
Rio Tinto has been through a very similar set of events to rival BHP; however, since Rio has no exposure to oil prices, its share price has fared better than BHP's throughout the year. Down 20% since January, bargain hunters could be going on a prowl for seemingly cheap resources shares leading into 2016. However, in this Fool's opinion, gambling on a bottom in the commodity cycle could be a very risky pastime. Especially when there are far better opportunities available (see below).
