Despite an earlier closing time extremely thin trading volumes suggest many market participants have already gone on holidays.

Banks were the strongest sector but resources rose on higher commodity prices.

Zinc was the biggest mover, gaining 4.4% to $US2502.50 per tonne, while nickel added 3.8% to $18,357/t.

Overall, the S&P-ASX 200 gained 1% or 51.6 points to 4790.9, its highest point since December 2.

The broader All Ordinaries closed 1% or 47.2 points up to 4803.3.

BHP Billiton gained 1.3% or A55c to $42.47, while Rio Tinto added just 0.3% or 22c to $73.50.

Fortescue Metals Group’s victory over the Australian Securities and Investments Commission in the Federal Court yesterday failed to positively impact the iron ore miner’s shares, which remained unchanged today at $4.38.

While Christmas Eve may be a strange day to debut on the bourse, it didn’t stop two explorers from listing today.

Hudson Resources spin-off Australian Bauxite was first this morning, closing at 31c, a 55% premium to its 20c issue price.

Just over 1.1 million shares in the junior changed hands in 93 trades.

Carbon Energy spin-off Energia Minerals debuted this afternoon and the late starting time meant the uranium play was not given the chance to soar like Australian Bauxite.

Shares closed at 22c, a 10% premium, though only 162,500 shares were traded in just 9 transactions.

Meanwhile, gold edged back up towards $US1100 per ounce, closing at $1094.50/oz on the Comex division of the New York Mercantile Exchange overnight.

Spot gold was last trading at $1095/oz.

Lihir Gold gained 2.8% to $A3.26 while Eldorado Gold Corp increased 2.9% to $7.

Nickel miner Western Areas is not only celebrating Christmas, but also its ten-year anniversary today.

The company shares rose 1.8% to $4.95.

Merry Christmas!