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S&P/ASX 200 closes higher after strong gains in mining and energy

Resolute Mining shares jumped 7.7% to $1.25 after the miner reported a 33% rise in quarterly gold output.

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BHP shares led the market

S&P/ASX 200 (INDEXASX:XJO) closed up 40 points or 0.7% to 6,221 helped by strong gains in mining, energy, healthcare and retail stocks which outweighed losses in the financial, property trusts and telco sectors.

Miners lead the charge

BHP Group (ASX:BHP) led the market, rising 1.7% to $39.89, Fortescue Metals Group (ASX:FMC) rose 2.8% to $8.00 and Rio Tinto (ASX:RIO) advanced 1.6% to $101.48.

Resolute Mining (ASX:RSG) shares jumped 7.7% to $1.25 after the miner reported a 33% rise in quarterly gold output to 98,105 ounces in the March 2019 quarter.

READ: Resolute Mining achieves record quarterly gold production from Syama

The key driver of the positive quarterly performance was the high grade and above budget recoveries achieved from Resolute’s new mine at Tabakoroni, 35 kilometres south of the Syama Underground Mine.

Oil price hits 5-month high

Energy sector was a standout performer today after global oil prices rose to 5-month highs on Friday.

Stronger-than-expected US job figures eased concerns about oil demand while the prospect of military action in Libya has stoked supply fears in the short-term.

Woodside Petroleum (ASX:WPL) gained 1.4% to $34.56, while Santos (ASX:STO) closed up 2.3% to $6.82.

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