AAP

Wesfarmers is considering a spin-out of its profitable Officeworks business, which contributed to strong earnings growth for the Perth-based conglomerate in the first half alongside Bunnings and Kmart.

The Australia share market has risen sharply, with gains broad based on the back of solid first-half corporate earnings reports.

US stocks were little changed, with the "Trump rally" pausing ahead of a testimony by Federal Reserve Chair Janet Yellen that will be scrutinised for clues on the timing of the next interest rate hike.

The Australian dollar is lower against its US counterpart which reached a three-week peak against a basket of currencies.

Oil has settled slightly higher, although rising supply from US shale output limits enthusiasm about an OPEC-led effort to cut global output.

The Australian share market has lost earlier gains to close lower amid a sell-off in the healthcare sector and weakness from Asian markets.

The Nationals WA have preferenced the Greens ahead of their Liberal alliance partners on the ticket for two upper house regions in next month's state election, including Liberal Agriculture & Food Minister Mark Lewis.

Woodside Petroleum executive vice-president Lawrie Tremaine is jumping ship to become Origin Energy's new chief financial officer.

The Australia share market is heading towards the key 5,800 mark, thanks to strong investor demand for resource, healthcare and financial stocks after Wall Street hit record highs.

The Australian dollar is lower against its US counterpart which has risen against a basket of currencies on re-ignited hopes of a US Federal Reserve interest rate rise.

Oil has fallen by about 2 per cent, the most since mid January, as a stronger dollar and signs of rising US crude output pressured prices while an OPEC report showing high compliance with last year's production-cut deal underwhelmed investors.

Gold prices have slipped as the US dollar rises and global equities climb, but political and economic uncertainties in the United States and Europe are expected to provide support for now.

Seven West Media has secured an interim injunction against chief executive Tim Worner's former lover as it seeks to stop her releasing what it says are confidential documents she should not possess.

Some encouraging company earnings reports, a positive lead from US markets and higher commodity prices have helped lift the Australian share market by about 0.7 per cent to its best close in a month.

Strong sales of computers, cameras and home appliances have helped drive JB Hi-Fi's half-year profit up by nearly 16 per cent to $110.4 million.

Newcrest Mining will pay its first interim dividend in four years after more than doubling first-half profit on the back of higher prices and increased gold and copper production.

The Australia share market has gained ground, thanks to investor demand for growth stocks, including Rio Tinto, BHP Billiton and Woodside Petroelum, after Wall Street hit record highs.

The Australian dollar is higher against its US counterpart as the price of iron ore lifts.

Gold has steadied, but remains below this week's three-month top as the US dollar and Treasury yields came off their highs after the currency initially jumped on US President Donald Trump's promise of a major tax announcement.

Oil prices have risen after reports that OPEC members deliver more than 90 per cent of the output cuts they pledged in a landmark deal that took effect in January.

Australian shares closed stronger, buoyed by record highs on Wall Street and investor hopes the local earnings season won't be as bad as initially feared.

The Reserve Bank is forecasting a slow but orderly return to above-trend growth and for inflation to return to target within three years, but economists and the International Monetary Fund warn that risks remain.

The share market has gained ground thanks to strength among the big four banks, following Wall Street's rise to record levels.

The Australian dollar is only fractionally higher against its US counterpart following a basically upbeat message from the local reserve bank chief.

Oil prices have held onto gains after an unexpected draw in US petrol inventories pointed to higher demand in the world's biggest oil market, although bloated crude supplies meant that fuel markets remain under pressure.

Gold has slipped from a three-month high in the previous session after robust US economic data pointed to a stronger economy, increasing the likelihood that the Federal Reserve will raise US interest rates.

Wall Street stocks surged to record highs on Thursday and the US dollar and bond yields rose after US President Donald Trump said he would release a "phenomenal" tax plan in the next few weeks.

The share market has edged higher as investors digested mixed earnings reports from the likes of miner Rio Tinto, investment manager AMP and AGL Energy.

Sydney-based AGL Energy has said it would lose around $15 million in a bid to enter the Western Australian domestic gas market in the 2018 financial year, after it lodged a retailing application with the state's Economic Regulatory Authority. 

Western Australia's financial outlook has worsened considerably in less than two months, with no return to surplus in sight and ballooning debt, pre-election projections show.

Profit continues to fall for Optus despite the telco attracting many new customers, largely due to its exclusive coverage of English Premier League matches.

The company building the national broadband network, NBN Co, says the number of homes and businesses connected to the network is now 1.6 million - double the same time a year ago.