AAP

The share market has enjoyed its strongest gain in a month as bargain hunters moved in and merger and acquisition activity stirred investor interest.

Evolution Mining has snared the Cowal gold mine in central NSW for $US550 million ($A702.74 million).

Shares in workplace provider Skilled Group have jumped 12 per cent after it announced it was in merger talks with rival Programmed Maintenance Services.

Gold, nickel, zinc and copper producer Independence Group has struck a $1.8 billion deal to acquire Sirius Resources.

The Australian dollar is lower following the release of strong US inflation figures and falls in commodity prices.

Gold prices have eased after US Federal Reserve Chair Janet Yellen said she expected an interest rate hike this year.

The Australian share market has closed flat, with a lacklustre performance from the big banks dragging on the broader market.

Fortescue Metals Group chairman Andrew Forrest says Brazilian iron ore giant Vale is a responsible producer, on the same day that Roy Hill Holdings chief executive Barry Fitzgerald warned about the impact of Vale’s rapid expansion.

Perth Lord Mayor Lisa Scaffidi says she was advised she did not need to disclose her acceptance of $16,000 worth of flights, accommodation and Olympics tickets from BHP Billiton.

The prime minister is being urged to repair the damage after the federal government let speculation linger on the possibility of an iron ore inquiry.

The share market has opened higher, driven by the mining and energy sectors.

Gold fell as the US dollar cut losses on economic data that showed growing economic momentum, but support came from signs the Federal Reserve was unlikely to raise interest rates in June.

The S&P 500 has finished at a new record following strong earnings from Best Buy and news that CVS Health would acquire senior pharmacy services company Omnicare for $US12.7 billion ($A16.13 billion).

The Australian dollar is relatively steady after a quiet night of trade on currency markets.

Treasurer Joe Hockey has ruled out the federal government initiating an inquiry into iron ore, just one week after Prime Minister Tony Abbott backed the idea.

The Australian share market has closed higher as bargain hunters piled into most of the major banks, and the big miners found support from investors betting on further economic stimulus measures in China.

A tunnel could be an easy alternative to save dozens of homes from being demolished to make way for the Perth Freight Link, the premier says.

Mining giant BHP Billiton has been hit with a $US25 million fine for violating a bribery law by treating foreign officials to trips to the 2008 Beijing Olympics.

Film and TV streaming service Quickflix has raised $775,000 from investors as it strives to compete with new competitors like Netflix.

The share market has opened higher due to strength in the healthcare and industrial sectors.

Gold prices are higher, briefly climbing to a new session high as the US dollar pared its gains after Federal Reserve minutes showed policy makers believed it would be premature to raise interest rates in June.

The Australian dollar is lower after hitting a three week low ahead of the release of details from the US central bank's latest policy meeting.

US stocks have finished mostly lower after a short-lived jump that came when the Federal Reserve's policy meeting minutes cast doubt on an interest rate hike in June.

Oil prices have risen after data showed a drop in US petroleum supplies and production.

The Australian share market has closed slightly lower as a sharp fall in iron ore prices weighed upon the big miners.

Any residents who are forced out of their homes to make way for the Perth Freight Link will be "generously treated", the premier has promised.

Iluka Resources hasn't given up on its United States operations despite incurring an $82 million writedown last year.

Uber is considering legal action to challenge a tax office ruling that requires its drivers to pay GST in line with taxi operators.

Treasurer Mike Nahan has flagged the possibility of demolishing and replacing the outdated Royal Perth Hospital with a new tertiary health facility, after the state government was criticised for not setting aside $180 million for a major upgrade.

Fortescue Metals Group hopes that its calls for an inquiry into the iron ore market will generate enough public pressure to force rivals to rein in their expansion plans.

Coles will expand the number of its own branded products to drive growth and to rival Woolworths' plans to match Aldi prices.

Kerry Stokes' Seven Group Holdings has increased its stakes in energy companies Drillsearch Energy and Beach Energy.