The S&P/ASX 200 dropped a modest 7 points to finish at 5436, with the basic materials sector up 0.1%.

BHP Billiton rose 0.1% to $A36.20 while Rio Tinto climbed 0.3% to $59.65.

The uninspired performance came as new data showed Australia’s trade balance slipped into a $122 million deficit in April.

While mining helped contribute to a surprisingly strong gross domestic product yesterday, the latest update showed the sector was moderating, with drops to the value of coal and gold exports some of the key drivers behind April’s deficit.

It wasn’t all bad news for resource stocks though, with Australia Minerals and Mining Group up 11.3% to 7.8c after finding significant cost savings for its alumina pilot plant.

Northern Minerals also continued its recent run to finish 17% higher at 20.5c, while iron ore and base metals-focused Apollo Minerals rose a healthy 20.7% to 2.9c.

Another gain came from explorer Ferrum Crescent, which jumped 30.8% to 1.7c on heavy volume before entering a trading halt.

The company said it would respond to a price query from the Australian Securities Exchange as soon as possible.

Copper and gold explorer Fifth Element Resources also earned a speeding ticket for its 25% rise to 75c.

The company said it had no explanation for the gain, which built on massive rises in the previous few sessions.

Other companies entering trading halts today included King River Copper and Rubianna Resources, which both went on hold pending updates on capital raisings.

On the negative side diversified explorer Windward Resources dropped 11.4% to 23c and Nevada Iron fell 11.8% to 59c.