3 June 2005, 11:32  Share prices closed higher buoyed by gains in the resources sector

Share prices closed higher buoyed by gains in the resources sector as BHP Billiton moved to wrap up control of WMC Resources via its 9.2 bln aud cash offer, dealers said. They said the market was generally mixed with some profit-taking evident after a solid week which has left the key market indicator, the S&P/ASX 200, narrowing the gap with its record high of 4,266.4 reached on March 21. The S&P/ASX 200 closed up 13.3 points or 0.32 pct at its high for the day of 4,194.0 and off an intra-day low of 4,171.5. Overall, the market had its fifth consecutive weekly gain, rising 1.9 pct over the week, The broader All Ordinaries closed up 12.8 points at 4,149.2. Dealers there were broad gains across the resources sector offsetting mixed performances elsewhere as investors continue to take a cautious view following the market's recent choppy performance. BHP declared its 7.85 aud a share offer for WMC unconditional after moving to 55.45 pct ownership and extended the offer for a further two week's from tonight. A total of 971.9 mln shares worth 3.59 bln aud were traded during the day, with rises outnumbering falls 571 to 429 while 315 closed steady.

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