The S&P/ASX200 index closed 0.48% or 20.52 points higher to 4295.6, while the All Ordinaries followed suit, gaining 21.55 points to 4353.8.

Locally, the Australian unemployment rate dipped to a 12-month low of 49% last month.

Latest Australian Bureau of Statistics figures show a total of 15,500 jobs were created in April on a seasonally adjusted basis, driven by a jump in part-time work.

While 26,000 part-time jobs were created for the month, 10,500 full-time positions disappeared.

News out of China, Australia’s largest trading partner, related to exports and imports and the fact they rose less than expected.

The country’s exports rose 4.9% in April from a year earlier, compared with growth of 8.5%, while imports grew 0.3%.

“The Chinese export outlook remains weak as orders from Europe have not yet recovered,”Bloomberg quoted Hong Kong-based BWC Capital Markets chief economist Daniel Chan.

Philippine exports also unexpectedly fell as faltering global growth crimped demand for its electronics and agriculture products.

Shipments abroad declined 1.2%, compared with a 10.1% increase a year earlier.

As for Europe, Greece’s political turmoil entered a fourth day with coalition talks deadlocked, raising the possibility another election would be held.

Locally, the major miners were higher, with shares in BHP Billiton up A29c to $34.62, while Rio Tinto gained 71c to $61.94, Fortescue Metals Group closed 16c higher on $5.49, OZ Minerals jumped 25c to $8.85 and Paladin Energy increased 2.5c to $1.405.

Ferrum Crescent was one of the big movers of the day, up nearly 41% or 2.3c to 8c on no news, while the wooden spoon of the day went to Aussie Q Resources with its shares down 20% or 3c to 12c after releasing results from its John Hill project in Queensland yesterday.

Companies requesting trading halts included Westgold Resources, Metals X, Northern Iron and ActivEX.

The Westgold and Metlas X announcements were virtually identical, citing a pending announcement related to a proposed corporation transaction, while Northern Iron’s and ActivEX’s also related to pending news.

Northern Iron shares had a run ahead of the trading halt request after it was reported in the Economic Times that India’s Aditya Birla Group had submitted a non-binding bid to buy the group, citing two sources with direct knowledge of the matter.

Gold stocks were also higher, with Australia’s largest locally owned miner Newcrest Mining gaining $1.33 to $25.13, while shares in Alacer Gold Corp gained 33c to $7.04 and Kingsgate Consolidated jumped 16c to $5.69.

At 4pm (AEST) the spot price of gold was up 0.3% or $US5 to $1594.56 an ounce, while the Australian dollar was fetching $US1.01. – with Bloomberg