AAP

Maintenance and asset management firm Transfield Services has returned to profit and expects its positive momentum to continue.

The Australian stock market has opened flat despite reports that Russian that are actively fighting in eastern Ukraine spooking markets overnight.

Qantas will need to come good on its promise to improve its earnings and lower debt in the next six months if it is to avoid another downgrade to its credit rating.

Virgin Australia’s full-year net loss has grown more than three-fold to $355.6 million.

Woolworths has lifted its profit 8.5 per cent and is expects a moderate increase for the year ahead.

The Australian dollar hit a three week high, after the release of strong local business investment figures.

US stocks have fallen modestly as rising fears about renewed tensions between Ukraine and Russia outweighed a batch of encouraging US economic data.

Oil prices have traded mixed amid renewed tension between Ukraine and Russia and a batch of encouraging US economic reports.

The share market closed lower as a drop in iron ore prices and more companies paying out dividends dragged on prices.

Australia's second largest gold miner Northern Star Resources has suffered a 15 per cent fall in profit after buying the Jundee mine and paying redundancies.

Australian stocks have opened lower, on the the back of soft commodity prices and a flat US session.

Iron ore miner Atlas Iron has returned to profit and is forecasting higher production and lower costs in fiscal year 2015.

Qantas Airways has suffered a massive $2.8 billion loss in the wake of the airline's profit-draining battle with rival Virgin and another poor performance from its international division.

The Australian dollar has strengthened against a weaker greenback.

Wall Street shares have ended little-changed in light trade, one day after the S&P 500 closed above the 2000 milestone for the first time.

Oil prices have gained, with the New York WTI benchmark barely higher as the US weekly stockpiles report showed a fall in inventory.

The Australian share market has closed modestly higher after the S&P 500 index in the United States finished above 2,000 points for the first time, helped by more encouraging data on the US economy.

Western Australian Premier Colin Barnett says he is disappointed that Moody's Investors Service downgraded the state's credit rating, describing the analysis as "very weak".

Falling commodities prices have hammered Seven Group Holdings' results, with the Kerry Stokes-led company reporting a 46 per cent fall in full year profit to $261.1 million.

Seven West Media has posted a $149.2 million profit for 2013-14 helped by cost cuts and improved television earnings, which helped it turn around its $70 million loss a year earlier.

Pilbara miner BC Iron has shrugged off falling iron ore prices to notch up a 51 per cent increase in profit amid strong sales.

Engineering giant WorleyParsons' full-year profit has fallen 23 per cent to $249 million as it tries to improve margins.

Lend Lease has increased full year profit by nearly 50 per cent and says the outlook is positive for the next three years.

The Australian stock market has opened higher following positive leads from US and European markets which have negated the downward effect of local stocks paying out their dividend.

The controversial split of shopping centre giant Westfield has been an early winner, delivering shareholders a $4.5 billion gain in less than two months.

The Australian dollar is higher despite better than expected economic data out of the US.

The S&P 500 has finished above 2000 for the first time, capping a steep climb from 676 in March 2009, when the market hit bottom during the Great Recession.

Oil prices have traded mixed, with New York crude lifted as investors bet on another decline in commercial inventories in the United States, the world's largest oil consumer.

The Australian share market has closed almost flat as modest gains among the major banks outweighed weakness in the big miners pressured by falling iron ore prices.

Qantas is being urged to cut thousands more jobs and jettison a majority of its international routes as the company faces the most turbulent period in its 94-year history.

Westfield's new Australian spin-off expects continued income growth from its shopping centres as specialty retailers boost their sales.

Struggling clothing maker Pacific Brands is selling its workwear business to Wesfarmers Industrial and Safety, after write-downs and weaker profit margins blew its full-year loss out to $224 million.