Australian employers also unexpectedly cut payrolls last month with the jobless rate rising to 5.2% from 5.1%, according to the Australian Bureau of Statistics, although the Aussie dollar held firm and was fetching $US1.06 against the greenback at 4.11pm (AEDT).

Fresh data out today from the Bureau of Resources and Energy Economics Resources and Energy Statistics December quarter 2011 report showed the value of the country’s resources and energy exports had jumped 15% last year to a record $A190 billion.

Iron ore was again the standout performer, with export earnings up $9.9 billion year-on-year, or 20%, to $59.3 billion in 2011, while thermal coal gained $2.4 billion, or 18%, to $15.6 billion and metallurgical coal gained $1.7 billion, or 6%, to $31.3 billion.

The S&P/ASX 200 index closed on higher ground for the first time this week, up 27.34 points or 0.66% to 4171, while the All Ordinaries followed suit, gaining 27.70 points to 4262.10.

Data also showed Japan’s economy shrank less than initially estimated, with the country’s gross domestic product falling to an annualised 0.7% in the fourth quarter, compared with an earlier estimate for a 2.3% contraction.

Locally, it was pretty much a sea of green for the major miners, with shares in BHP Billiton up 25c to $34.30, while Rio Tinto jumped 24c to $62.66, Fortescue Metals Group gained 20c to $5.51, OZ Minerals was unchanged on $9.92 and Paladin Energy closed 5c higher on $1.74.

Predictably, there were no real stand outs when it came to big movers of the day, with a handful of juniors recording share price gains on relatively small volumes and on no news. These included Magna Metals, Ram Resources and Axiom Mining which were up a respective 50% to 0.3c, 33% to 0.4c and 22% to 3.3c.

The wooden spoon of the day went to Apex Minerals with its shares down 50% to 0.3c after announcing its chief Mark Ashley could receive a golden handshake worth up to $1.2 million before tax if a $22.2 million rights issue and board shake-up, which will result in Drummond Gold executive chairman Eduard Eshuys taking over the reins, is approved by shareholders next month.

Gold stocks had a better day, with Australia’s largest locally owned miner Newcrest Mining gaining 4c to $30.64, Alacer Gold Corp jumping 21c to $8.76 and Kingsgate Consolidated increasing 20c to $6.27.

At 3.53pm (AEDT) the spot price of gold was up $US1.43 to $1675.82 an ounce.

– with Bloomberg