AAP

The Australian share market continues to lose ground as investors steer clear of risk ahead of US president Donald Trump's long awaited first speech to Congress.

The Australian dollar is slightly lower against its US counterpart with markets in wait-and-see mode ahead of US president Donald Trump's keenly awaited address to Congress and local economic growth data.

Oil prices have slipped but have continued to trade in a tight range, as concerns about rising US crude inventories ahead of data overshadowed OPEC production cuts.

The price of gold has turned downward as the US dollar comes off its lows and financial markets await US President Donald Trump's speech to Congress regarding his policies on tax reforms and government spending.

Shares in WorleyParsons have soared after the engineering group confirmed it had rejected a takeover bid from a Dubai-based professional services group, which has since emerged as a large shareholder.

A late plunge on the share market has sent it to a fourth straight day of falls.

Stronger commodity prices and government spending in the final months of 2016 are expected to have helped the economy bounce back from the preceding quarter's contraction.

Premier Colin Barnett says the final stage of the contentious Perth Freight Link will involve expanding Stirling Bridge and not digging a tunnel under the Swan River, although the federal government doesn’t expect that to be necessary until at least the mid-2020s.

Soaring energy prices, driven by growing gas exports are putting jobs at risk and "politics-driven energy policies" are making the situation worse, Australia's peak business lobby group has warned.

Australia's current account deficit was $3.85 billion in the December quarter down from a deficit of $10.2 billion the previous quarter, seasonally adjusted figures from the Australian Bureau of Statistics said.

Livestock agribusiness Wellard has slashed its first-half loss and expects to post a profit in the 2017-18 financial year.

 The Australian share market is clinging on to the green in early trade after three days of decline, as investors take cues from overnight gains on Wall Street.

Iron ore miner Fortescue Metals Group has denied media reports stating it had lodged a $1 billion-plus offer for Wesfarmers' Curragh coal mine in Queensland.

US stocks have ended slightly higher and the Dow has closed at a record high for a 12th straight session after President Donald Trump said he would make a "big" infrastructure statement.

The Australian dollar is lower against its US counterpart ahead of US president Donald Trump's first address to a joint session of Congress.

Spot gold has fallen after tapping a 3-1/2-month high as US Treasury yields rose and investors waited for US President Donald Trump to outline plans for tax cuts, infrastructure spending, levies on imports and foreign policy.

There's still no plan in sight to connect the controversial Perth Freight Link project to Fremantle Port, a Senate committee has heard.

WA Labor has vowed to employ at least 50 apprentices at Western Power every year if it wins the state election.

The Australian share market has closed lower due to large falls from the heavyweight energy and banking sectors.

Attorney-General George Brandis has been asked to make a statement explaining when he first became personally involved in the Bell Group litigation.

Slater & Gordon shares have plumbed fresh depths yet again after the law firm reported a first-half loss of $425 million largely due to another $350 million write-down of its troubled UK business.

QBE chief executive John Neal has had his pay docked by more than $500,000 over what the insurer called his "personal decisions", despite him leading the company to a 22 per cent increase in full-year profit.

Shipbuilder Austal is pursuing its strongest-ever pipeline of potential work, including significant contracts in Australia.

The Australian share market has opened flat amid patchy early trade.

Oil prices have fallen per cent after US crude inventories rose for a seventh week, showing that the market is still struggling to ease oversupply despite many producers' efforts to rein in production.

The Australian dollar is sharply lower against its US counterpart, falling as much as half a US cent before regaining a little ground.

Gold has reached its highest in 3-1/2 months as the dollar fell to a one-week low after the new US Treasury chief poured cold water on the "Trumpflation trade" that had boosted the greenback this year.

Premier Colin Barnett has rejected calls to release the latest costings for the Roe 9 stage of the contentious Perth Freight Link project, saying it would undermine the tender process.

The Australian share market is lower, pulled back for a second successive session by significant falls among the big miners, with weakness among the big four banks further prodding the retreat.

The Australian share market has opened lower, dragged down by major miners on the back of weakness in commodities.

The Australian dollar is higher against its US counterpart and has once again jumped above the 77 US cent mark.

Oil prices have risen but gains have been pared after US government data shows a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output.