The S&P/ASX200 index climbed 14 points higher to close at 4362.7 points while the All Ordinaries added 14.14 points to 4441.3 points.

Overseas markets took a dip after Spain’s non-performing loans, as a proportion of total spending, jumped to the highest level since 1994 ahead of today’s bond sale.

Closer to home and the miners spurred gains in the broader market.

BHP Billiton added A40c to $35.50 while Rio Tinto gained 10c to $66.60.

The world’s fourth largest iron ore miner Fortescue Metals Group closed the day 9c higher at $6.02.

The iron ore miner blamed a quarter-on-quarter fall in iron ore export and mining volumes on cyclones and flooding in the Pilbara region, with shipped tonnes coming in below guidance.

FMG shipped 12.6 million wet metric tonnes for the March quarter including ore from its Nullagine joint venture with BC Iron, down 16% from the December quarter but up 44% from the previous corresponding period.

FMG said exports came in below guidance due to the impact of tropical cyclones Heidi and Lua which both resulted in the closure of Port Hedland and delayed ship loading for around eight days.

The big mover by percentage today on the Final Call watchlist was Perseus Mining which finished 11c, or 4.7%, higher at $2.46 while Independence Group added 17c to $4.34.

Meanwhile, Whitehaven Coal plunged 55c to $5.48 today after the Federal Court of Australia made orders approving the proposed acquisition by Whitehaven of all the shares in Aston Resources.

Gold was trading $US1.42 lower at $1640.68 an ounce this afternoon.

At a gold conference in Perth, a senior Westpac economist said the precious metal would be hard pressed to test the $2000/oz mark despite concerns over the slowdown from China and a recession in Europe.

Base metals on the London Metal Exchange were trading slightly higher in Asia.

Copper for three-month delivery was up 0.1% to $8057 per tonne, while nickel added 0.6% to $17,750/t and zinc climbed 0.3% to $1997.50/t.

- with Bloomberg