AAP

At the close on Friday, the benchmark S&P/ASX200 index was 16.4 points, or 0.3 per cent, higher at 5,462.3, while the broader All Ordinaries index was up 17.3 points, or 0.32 per cent, at 5,477.0.

Australia's building industry has contracted further with a sharp fall in new orders as the investment phase of the mining boom fades.

Reserve Bank of Australia governor Glenn Stevens said while inflation is not quite as low as it might have looked six to 12 months ago, he does not believe it is accelerating to the extent a literal reading of the latest data might suggests.

The S&P 500 Thursday jumped to a new record high on a mixed day for stocks as investors looked ahead to Friday's monthly jobs report.

Gold prices have risen while palladium has set a fresh 11-month high after tensions between Russia and the West escalate.

The Australian dollar continues to climb after a series of stronger-than-expected economic data boosts confidence in the local economy.

The Australian Greens are crying foul over reports Labor may not preference them at the re-run of the Western Australian Senate election.

The mysterious "health-related" absence of Treasurer Troy Buswell will likely be explained when he returns to work, the premier says.

The sharemarket has closed steady, as gains from better than expected retail spending and trade balance data offset falls posted in early trade.

Troubled surfwear retailer Billabong faces a potential class action from investors hurt by the dramatic decline in the fortunes of the company.

Figures released by the Australian Bureau of Statistics show retail spending rose 1.2 per cent in January, three times the 0.4 per cent rise economists had expected.

Western Australian sandalwood producer TFS Corporation, through its US joint venture entity Santalis Pharmaceuticals, is about to ship 100 kilograms of oil to an unidentified global pharmaceutical company - at $US4,500 per kilogram.

The Australian market has opened weaker due to falls by the mining giants and a soft lead from Wall Street.

The federal government insists it is working to stop global companies avoiding tax.

A disappointing production forecast from oil giant ExxonMobil has pushed the Dow into negative territory on an otherwise flat day for US stocks.

Gold has gained for the second time in three days as weaker US economic growth and Russia-Ukraine tension underpin demand for haven assets.

A majority of ministers voted in favour to repeal foreign ownership limits in Qantas after the Abbott government introduced legislation to parliament today.

The Australian dollar is firmer on positive local economic growth figures and renewed global risk appetite as troubles in the Ukraine appear to de-escalate.

The Australian share market has closed higher, hitting a five-and-a-half year peak.

Verve Energy's claim that Woodside Petroleum breached its obligation to provide gas at its usual price during the Varanus Island disaster has been rejected by the High Court.

Supermarket giant Coles will open 70 new stores in the next three years, creating more than 16,000 jobs.

GDP rose by a better than expected 0.8 per cent in the December quarter, taking economic growth to 2.8 per cent for 2013.

Teachers angry at funding cuts will walk off the job on April 1st to rally in Perth and protest outside the WA Parliament.

The Australian market has rallied strongly after Russian president Vladimir Putin announced he had no plans to invade Ukraine.

Prime Minister Tony Abbott has urged Qantas to lobby Labor, the Australian Greens and crossbench MPs to support government changes to allow greater foreign ownership of the airline.

Engineering firm Downer EDI has won a $70 million contract to perform structural, mechanical, piping and electrical work at the Technical Ammonium Nitrate Plant project on the Burrup Peninsula in Western Australia.

US stocks have soared and investors pushed the S&P 500 to its second record close in three days on signs of easing tensions over Ukraine.

The Australian dollar is firmer as global risk appetite grows on the back of hope tension between the Ukraine and Russia is easing.

Gold prices have dropped, as easing fears over the situation in Ukraine drain trader interest in haven assets in favour of riskier bets such as stocks.

A scrapyard in the South West has been fined $80,000 over an unsafe work environment where a worker was fatally crushed under a piece of metal.

The Australian share market has closed higher, underpinned by gains by the big four banks.

Mining magnate Gina Rinehart has tumbled 10 places on a list of the world's wealthiest, despite getting richer.