AAP

The Australian share market has closed almost flat as a small rally in mining and energy stocks outweighed a weak lead from US markets.

Contractor Broadspectrum has upgraded its earnings guidance for the 2016 financial year, raising the stakes for its takeover bidder.

Billionaire casino mogul James Packer has resigned as a director of Crown Resorts, fuelling speculation that he wants to completely take over Crown.

The Australian share market is almost flat after starting the session much lower, with key banking and mining stocks continuing to trade in the red.

The Australian dollar is higher, getting some support from stronger metals prices and a weaker US dollar.

Gold rose more than one per cent on Friday, recovering from its biggest daily loss in five months as the US dollar retreated, but remained near multi-year lows after the Federal Reserve lifted US interest rates.

The Australian share market has finished slightly higher as strength in banking stocks helped pare back earlier losses.

Andrew Forrest has finalised the purchase of a $16 million oceanfront house in Cottesloe from an elderly man who has apologised for implying the billionaire pressured him into the sale.

Law firm Slater & Gordon, which is renowned for backing shareholder class actions, could be on the receiving end after competing firm ACA Lawyers flagged possible action.

As Western Australia moves to follow NSW in legalising Uber, the taxi industry says the devil will be in the detail of the proposed reforms.

The Australian share market resumed its downward slide on Friday, after a two-day respite.

The Australian dollar fell to a one month low, weighed down by weaker commodity prices and falls in US stocks.

US stocks have led a decline in most equity markets around the globe, a day after the Federal Reserve's first interest rate rise in nearly a decade, as continued pressure on oil weighed on the energy sector.

Gold prices have fallen more than one per cent, after the Federal Reserve increased US interest rates for the first time in nearly a decade and hinted at more increases in 2016.

The US Federal Reserve's long-awaited rate rise seems to have clinched a pre-Christmas "Santa rally" for the Australian share market after local stocks closed higher for a second straight day.

Billionaire James Packer's private investment firm, Consolidated Press Holdings, has downplayed speculation that he is seeking to privatise casinos operator Crown Resorts.

The Australian share market has jumped higher in early trade, with the US Federal Reserve's decision to hike interest rates clearing the way for a likely Santa rally.

The Australian dollar is higher following a subdued market reaction to the US Federal Reserve's first interest rate hike in almost 10 years.

Gold has held onto its gains, after the Federal Reserve raised US interest rates for the first time in nearly a decade, as expected, making clear it was a tentative beginning to a "gradual" tightening cycle.

US stocks have rallied after the Federal Reserve announced it is raising its key policy rate for the first time in nearly a decade in a sign of confidence in the US economy.

The Australian share market has risen by more than 2 per cent, breaking a six-day losing streak as investors snapped up bargains.

Opponents of the Perth Freight Link are celebrating after the Supreme Court of Western Australia deemed environmental approval for the most contentious part of the project invalid.

The need to overhaul Australia's 40-year-old media regulations is now urgent for domestic players trying to compete with international rivals, Ten Network chairman David Gordon says.

The Australian share market is one per cent higher following strong gains on Wall Street overnight.

Oil reversed early falls to snap a six-day slide as bargain hunters moved in after crude dropped to its lowest level since December 2008 in the prior session. The jump helped boost equities in both the United States and the Europe.

The Australian dollar has fallen, after the US dollar rallied, ending several days of losses.

US stocks have rallied broadly, led by energy and financial shares as crude oil prices rose and before Wednesday's interest rate decision from the Federal Reserve.

Gold prices have steadied following the previous day's one per cent slide ahead of a US Federal Reserve interest rate announcement.

The benchmark S&P/ASX200 index has slipped to its lowest level for the year.

Woolworths has performed a major backflip and reintroduced Qantas frequent flyer reward points for shoppers, two months after it angered many loyal customers by dumping them.

Qantas shareholders could be set for another windfall after the airline revealed it is on track for a record full-year profit, just two years after its biggest ever loss.

The Australian share market is higher in early trade, on the back of positive cues from Wall Street, but the S&P/ASX200 remains below the crucial 5,000 level.