THE share market closed higher ahead of the Easter long weekend amid strength in the mining sector on the back of firmer base metals prices.
The benchmark S&P/ASX200 index was up 32.2 points, or 0.66 per cent, at 4907.7 points, while the broader All Ordinaries index added 32.8 points, or 0.67 per cent, to 4925.9 points.
On the Sydney Futures Exchange at 16:17 (AEDT), the June share price index contract was 48 points higher at 4927 points on volume of 22,613 contracts.
Wealth Within chief analyst Dale Gillham said he sensed some indecision in the marketplace ahead of the Reserve Bank of Australia's meeting on interest rates next week.
CMC Markets analyst David Taylor said a $9.2 billion takeover bid by US gold mining giant Newcrest for Lihir Gold took the market by surprise.
Lihir, which rebuffed the approach, soared $1.01, or 33.33 per cent, to $4.04 after 277.9 million shares worth $1.1 billion changed hands, making it by far the most traded stock by both volume and value.
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Newcrest had put on 96 cents, or 2.93 per cent, to $33.78.
At 16:20 (AEDT), the spot price of gold in Sydney was $US1,112.40 per fine ounce, up $US4.90 on yesterday's closing price of $US1107.50.
Mr Taylor said many analysts believed the gold price could surpass the $US1226 per ounce mark achieved early December last year.
"There's talk of interest coming from overseas resource giants as well, which may see further buying activity in the (gold) sector,'' Mr Taylor said.
The takeover action continued with CSR entering into talks with Bright Food Group after the Chinese suitor sweetened its takeover offer for CSR's Sucrogen sugar and renewables energy business to $1.75 billion.
Shares in CSR closed 10 cents, or 6.04 per cent, higher at $1.755.
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