Heat oil in a large skillet over medium-high heat. Add pineapple, peaches, sugar and allspice. Reduce heat to low; cook until fruits begin to caramelize.
Preheat oven to 350F.
Combine brown sugar and mustard.
Cut away some of the fat on ham and peel away hide. Score ham in criss-cross fashion; insert a whole clove at each intersecting point. Rub mustard mixture over meat. Place in a roasting pan and pour 1 cup of water into the bottom of pan.
Bake, uncovered, about 45 minutes. Spoon fruit glaze over ham and continue baking 45 minutes. Let stand 15 minutes before carving.