AAP

US and European stocks have closed down sharply and the euro enjoyed its biggest one-day percentage rise in well over six years as investors reacted to the European Central Bank's latest policy easing measures.

The Australian dollar has hit a seven-week high, as traders largely ignore weak local data and focus on the steady interest rate outlook.

Gold has bounced from near six-year lows in line with a sharp rebound in the euro, rising one per cent after the European Central Bank (ECB) announced the minimum cut in its deposit rate that investors had been expecting.

Andrew Forrest wants Australia's looming free trade agreement with India to include a commitment to tackling modern slavery within the world's seventh largest economy.

Commodity price weakness has pushed the Australian share market lower as the big miners suffered sizeable falls.

The first shipment of iron ore from Gina Rinehart's $10 billion Roy Hill project has been delayed because of commissioning and safety issues.

A fall in mining export volumes has blown out the trade deficit to $3.3 billion in October.

Australia could face a sharp decline in home construction that may lead to an easing in prices, a HIA report says.

Passengers have fled from a burning bus during morning peak hour traffic in Alexander Heights, with the vehicle completely destroyed in the blaze.

The Turnbull government is set to impose tougher tax-avoidance rules on business after securing a deal with the Greens.

The Australian share market has opened slightly lower as investors await figures on the performance of the Australian economy.

Gold fell to its lowest in nearly six years, extending losses as Federal Reserve Chair Janet Yellen said she was "looking forward" to an interest rate hike that will mark the US economy's recovery from recession.

The Australian dollar is flat after heightened speculation about a US interest rate hike caused the currency to lose all the gains made on the back of local economic growth data.

Shares in cleaning, catering and maintenance provider Spotless have plunged by 40 per cent after it stunned investors with a profit warning.

BHP Billiton plans to almost halve its costs at Olympic Dam over the next two years but says it will double capacity over the long term.

The Australian share market has finished slightly lower after huge losses among Spotless and Cardno weighed on the industrial sector.

Santos will tap investors for around $585 million to meet a shortfall in its $2.5 billion rights entitlement offer.

The Australian share market has opened slightly lower as investors await figures on the performance of the Australian economy.

US stocks started December stronger as health and consumer shares bounced back while auto sales suggested upbeat growth in November.

The Australian dollar has hit a one-and-a-half-month high after the cash rate was kept unchanged and the release of very strong housing figures.

Oil prices have moved sideways as traders awaited the weekly US petroleum report and an OPEC meeting seen as unlikely to reduce output despite persistently weak prices.

Gold has risen for a second day, rebounding from last week's five-and-a-half-year low, as a retreat in the US dollar prompted investors to cover short positions ahead of a European Central Bank (ECB) meeting and US payrolls data this week.

The Australian share market has made strong gains as investors took heart from economic data out of China and prices for gold, oil and copper lifted in Asia.

The Reserve Bank has refused to play Santa for home owners this Christmas.

Home values in Perth rose by 0.3 per cent in November to a median of $499,000, while the combined capitals index dropped 1.5 per cent.

Sandalwood producer TFS Corporation has more than doubled its quarterly net profit as it revalued trees and sold plantations.

The Australian share market is higher as investors buy into undervalued mining and banking stocks.

The US dollar pared gains after hitting an eight month high against major currencies, while the prospect of further European Central Bank stimulus dragged the euro, and oil futures fell on worries about a growing supply glut.

The Australian dollar is back above 72 US cents as traders wait for the outcome of the Reserve Bank's board meeting.

Oil prices have finished a bit lower ahead of an OPEC meeting expected to maintain policies that have kept prices down.

Gold has lifted 1 per cent but remains close to its lowest level in almost six years, and is on track for its steepest monthly slide in two-and-a-half years on prospects of a US interest rate rise in 2015, as the US dollar hit a multi-month high.

A Perth-based company that hopes to join the growing medical marijuana market in the US plans to list on the ASX next year.