AAP

The Dow and the S&P 500 have bolted to new records after the European Central Bank launched aggressive measures to stimulate fragile eurozone growth and avert deflation.

The Australian share market has closed slightly lower as investors await the outcome of a European Central Bank monthly policy meeting overnight.

Falling prices for coal and iron ore have seen Australia's trade balance fall into the red following five consecutive months of surplus.

Premier Colin Barnett continues to beat the drum for the state's fair share of GST, calling for more of his federal counterparts to stick up for the west.

The share market is flat in early trade as investors take a cautious approach ahead of an anticipated rate cut by the European Central Bank.

Mining giant BHP Billiton has cut about 100 staff from its iron ore division headquarters in Perth.

US stocks have risen, pushing the S&P 500 to a record close, following mixed economic data a day ahead of the closely watched meeting of the European Central Bank.

Copper prices recorded their steepest drop in seven weeks on concerns that a Chinese probe into the use of metal for obtaining loans would hurt demand.

The Australian dollar has continued to rise on surprisingly strong economic growth figures.

The Australian share market has closed lower as investors shrugged off better-than-expected headline economic growth figures and decided to take profits ahead of a key European Central Bank meeting on Thursday.

Australia's economy grew at its fastest pace in two years during the March quarter, boosted by a big surge in mining exports.

The share market has opened lower as investors trade cautiously ahead of the release of economic growth figures.S

Westfield Retail Trust (WRT) has warned its shareholders will be worse off if they reject a controversial merger plan with Westfield Group's Australian assets.

Gold futures posted a slight gain as a retreat in US equities and a weaker dollar perked up investor interest in the haven asset.

The Australian dollar has drifted lower after getting a boost on Tuesday from the Reserve Bank's monthly statement.

Exports defy budget gloom

Wall Street stocks have retreated from Monday's records as investors looked ahead to Thursday's European Central Bank meeting and Friday's monthly US jobs report.

Westfield Retail Trust is in court to seek approval to conclude an investor vote on a controversial proposed merger with the Australasian business of Westfield Group.

Retail spending is growing at a sluggish pace not helped by weakening consumer confidence, with the latest figures again coming in below forecasts.

The Australian share market has closed lower as weaker than expected retail figures and uninspiring commentary from the Reserve Bank of Australia weighed on investor sentiment.

The Reserve Bank of Australia has kept the cash rate at 2.5 per cent, as the local economy shows signs of improvement.

The Australian share market was weaker in early trade ignoring positive leads out of the US overnight.

The Australian dollar is weaker on the back of disappointing local building approvals figures.

Origin Energy says it had to act after agreeing to fork out up to $US800 million ($A865.57 million) for a stake in a new gas project off the Western Australian coast.

Oil prices have finished lower on mixed economic data and signs of higher crude output from members of the Organisation of Petroleum Exporting Countries (OPEC).

The Dow and S&P 500 again rose to new records following a solid report on US manufacturing activity, even as the Nasdaq lost ground.

A former senior project officer at the City of Perth has escaped a prison sentence for acting corruptly while overseeing capital works projects.

Australian shares have lost ground as weak iron ore prices weighed on the market.

Nickel miner Western Areas plans to expand its operations and pay down debt as higher nickel prices make marginal projects more viable.

Former Leighton Holdings chief executive Wal King has been appointed deputy chairman of Africa-focused iron ore hopeful Sundance Resources.

Foreign Minister Julie Bishop has warned that Australia must not fall into a trap of thinking that it can only benefit from a guaranteed peaceful rise of China as the world's largest economy and a superpower.

The Australian share market has opened slightly lower as weak iron-ore prices and concerns China's softening economy overshadows Wall Street's new highs.