Resources stocks bounce tenuous, fund managers say

Fund managers are sceptical that the commodity price rally that has put resources stocks among the best performers this year can continue.

The sector has risen around 15 per cent since the start of the year, excluding the safe-haven gold stocks, according to Citi Research, versus the S&P/ASX 200 Index, which is up 3.5 per cent. Citi equity strategist Tony Brennan said the rebound had taken the market by surprise.