AAP

US stocks have finished with modest gains as investors look ahead to Thursday's congressional testimony by Federal Reserve Chair Janet Yellen.

The Australian dollar has fallen as the greenback edges higher ahead of Federal Reserve chief Janet Yellen's Congressional testimony.

Resources stocks have weighed on the local sharemarket due to investor concerns about the Chinese economy and weaker commodities prices.

Engineering giant WorleyParsons will review its global business after profit fell by almost 30 per cent, fuelling speculation of more restructuring and job cuts.

Shopping centre giant Westfield Group has suffered a 6.7 per cent slide in its full year profit.

The Australian share market has opened flat following weak overseas leads from the US.

Wall Street stocks have fallen following weak US economic data and a mixed outlook from JPMorgan Chase on some of its key business units.

Oil prices sank as traders expected a rise in US commercial crude stockpiles and worried about China's economic health.

The Australian dollar has fallen slightly as global risk appetite softens.

The sharemarket's run of seven straight days of gains is over, as a weaker iron ore price weighed on the resources sector.

GrainCorp expects to make a full year profit of between $80 million and $100 million with recent large harvests offset by poor seasonal conditions in Queensland and NSW.

The Australian share market has opened flat following weak overseas leads from the US.

Qantas is refusing to confirm or deny reports the financially troubled airline will axe up to 5,000 jobs as part of its efforts to find $2 billion in savings.

Gold futures have rallied to a 16-week high as fears that Ukraine would plunge into a sovereign debt default fanned demand for wealth preservation.

US stocks have finished higher as a February rally accelerated amid continued strength of some high-flying technology equities.

The Australian dollar is firmer after US stocks rallied strongly overnight as appetite for riskier assets rise.

The sharemarket has closed flat after a slower increase in property prices in China generated anxiety about the strength of the Chinese economy.

Shares in Boart Longyear have fallen more than 8 per cent after the drilling company slumped to a full year net loss of $US620 million.

The Australian share market has opened flat following weak overseas leads from the US.

Environment Minister Greg Hunt has stepped in to stop the auction of carbon units, saying it will give business certainty ahead of the government's plans to scrap the carbon tax.

Gold futures have risen, as some investors, citing the recent political turmoil in Ukraine, seek to fireproof their portfolios.

US stocks have finished with modest declines as investors shrugged off a drop in sale of existing homes as weather-related.

The Australian dollar is lower ahead of a quiet day of no major local data releases.

A positive lead from Wall Street and a continuation of positive reaction to local earnings reports has helped take the sharemarket to its highest level in nearly six years.

A bushfire warning for residents in Perth's southern suburbs has been downgraded from a watch and act to an advice, with lives and homes no longer under threat.

Oil and gas producer Santos has announced a net profit of $516 million in line with last year's result as record sales revenue was offset by lower interest income and higher exploration costs.

The Western Australian Senate vote debacle has claimed two senior scalps at the Australian Electoral Commission.

Iluka Resources predicts demand for its products will recover over the next two years despite weaker prices causing a 95 per cent drop in its full year profit.

Western Australians will see a lot of Prime Minister Tony Abbott and hear much more about the carbon and mining taxes as their Senate election is re-run.

The Australian market has opened higher after a strong lead from Wall Street and gains from the mining giants.

The new owner of Shell's downstream assets in Australia has given assurances no jobs are at risk under its $2.9 billion deal to by the multi-national group's stations and Geelong refinery.

National Australia Bank has grown its cash profit in the first quarter by seven per cent to $1.55 billion.