AAP

The Australian share market has finished on a strong note, rebounding from falls in early trade as investors bought into the banks.

It seems Australians took a break from the property market over the festive season, sending home loan approvals to a seven-month low.

CUA has enjoyed a strong lift in new home loans and a rise in half-year profit, but its boss says the result was held back by restrictions on investor lending.

The consumer watchdog has sought further information from miner Fortescue Metals Group on its proposed tie-up with Brazilian iron ore giant Vale.

The Australian share market has opened lower after weak Chinese economic data and lower commodity prices saw global markets slide.

US stocks have ended near the lows of the day as energy shares tumbled alongside the price of oil and soft Chinese trade data rekindled fears that the global economy is weaker than expected.

Gold has turned lower, falling below last week's 13-month high on profit-taking as the market's recent rally appeared to lose momentum ahead of the next US Federal Reserve meeting.

Iron ore prices have maintained their huge gains, helping the Australian dollar's rally roll into an eighth day.

Smaller iron ore miners were the big winners today after the iron ore price surged overnight, whereas Fortescue Metals Group failed to sustain Monday's big gains despite announcing a joint venture and investment deal with Brazil's Vale.

BHP Billiton will axe almost 300 jobs from its Mount Arthur coal mine in the Hunter Valley in New South Wales.

A former staffer to two Western Australian premiers and current Vincent Mayor John Carey is seeking Labor preselection for the seat of Perth at the next state election.

Energy and materials stocks are leading the Australian share market higher in the wake of a meteoric rise in iron ore prices and a strong performance by oil.

Gold rose on Monday, hovering just below last week's 13-month high as the US dollar turned lower, while a fall in average US earnings lessened expectations the Federal Reserve could raise interest rates at its next policy meeting.

The Australian dollar has surged to an eight-month high on the back of a "spectacular" jump in iron ore prices.

The Dow Jones industrial average and the S&P 500 index closed higher on Monday as a spike in energy shares offset sharp declines in large-cap technology names, which dragged down the Nasdaq.

The Australian share market has finished the session marginally higher, but has gained more than 4 per cent over the week, led by the big banks and miners.

BC Iron is cutting more workers and contractors at its Nullagine project after its joint venture partner Fortescue Metals Group decided to not buy low-grade iron ore stockpiled at the mine.

BHP Billiton says it remains committed to maintaining its strong balance sheet through the commodities downturn, after ratings agency Moody's downgraded its rating for the global miner.

The Australian share market has opened firmer for a fourth straight session, despite some caution from investors.

Wall Street has moved higher, adding momentum to a recent recovery as the energy and financial sectors break into positive territory for 2016. 

Gold has risen back towards $1,260 an ounce, coming within a hair of a 13-month high as the US dollar heads toward its biggest one-day tumble in a month after US data fuelled worries over Friday's US payrolls data.

The Australian dollar is refusing to roll over, soaring to a three-month high on the back of disappointing US economic figures.

The Australian share market has finished its third straight session of strong gains, led higher by the nation's big resources companies and banks.

BHP Billiton has agreed to a settlement with Brazilian authorities over the Samarco dam disaster worth at least $US2.4 billion ($A3.15 billion)

The Australian share market is higher, following on from two days of gains, after another positive lead from US markets.

Energy and bank stocks have led Wall Street higher, adding to a rally in the previous session, after strong jobs data dispelled concerns over the health of the US economy.

Gold has rebounded as the US dollar turned lower, shrugging off a turn higher in global shares and better-than-expected US economic data.

The Australian dollar has become the best performing currency overnight and is now targeting 73 US cents after surprisingly positive growth data.

The Australian share market has bounced back above 5,000 points, driven by the big four banks and energy companies.

Private health insurers will increase their premiums by more than 5 per cent within weeks after winning approval from Health Minister Sussan Ley.

Ratings agency Moody's has cut supermarket giant Woolworths' credit rating by one notch.

Australia is close to the top of the leader board of advanced economies after unexpectedly posting GDP growth of 3 per cent in 2015.