Increasing takeover activity has helped Australian resources stocks begin the June quarter on a high and put the sector in a strong position to continue to outperform the broader market.

As the S&P/ASX 200 Index inched 0.29 per cent higher on Thursday, energy and materials sped past the market with gains of 1.57 per cent and 0.43 per cent stoked by gold miner Newcrest ’s bid for rival Lihir , which added to an already acquisitive mood following Peabody’s pitch for Macarthur Coal on Wednesday.