The S&P/ASX 200 climbed the entire day to finish 63 points higher at 5309.

The basic materials sector also notched a solid performance, finishing 2.6% higher.

Big economic news today included the release of softer employment figures for last month.

Australian Bureau of Statistics data showed the economy shed 31,600 full-time positions but added 9000 part-time jobs in December, with the unemployment rate remaining at a four-year high of 5.8%.

The news saw the Australian dollar drop significantly, landing at US88.13c by close.

Despite the uninspiring news, the big miners managed good results, with BHP up 2.5% to $A36.82 and Rio Tinto up 2% to $65.58.

Rio Tinto’s strong gain came on the back of good quarterly results, with December quarter global iron ore production up 3% and shipments up 6% on the previous quarter.

Metals on the London Metal Exchange were also positive, with the contract for three-month delivery for lead up 0.4% to $US2221.50 a tonne.

Iron ore companies continued to look good today, with Ferrum Crescent up 45.8% to 3.5c and Haranga Resources 14.3% higher at 8c.

Enterprise Metals was also up 12% to 5.6c and Argent Minerals jumped 14.6% to 5.5c.

Some of the day’s losses came from Gondwana Resources, down 29.3% to 5.3c, and GBM Resources, which was 12.5% at one stage before finishing 2.5% lower at 3.9c.

Classic Minerals was also down 12% to 6.6c after announcing plans to restart drilling at the Mammoth nickel discovery.

In other news, Exalt Resources was up 66.7% to 2.5c after releasing drilling results from its Brooklyn iron project.