AAP

Australian superannuation funds are being urged by the treasurer to divest Russian assets and join the government in putting a squeeze on Vladimir Putin.

Investors are enjoying the longest winning streak of the year on the ASX as energy and materials shares keep rising due to economic sanctions on Russia.

Political leaders are making up for lost time in WA as the state's hard-border measures are eased after almost two years.

US President Joe Biden has thanked Australia's efforts to combat Russian aggression in Ukraine in his inaugural State of the Union address.

Shares on the ASX are on their longest winning streak this year as the Russia-Ukraine war lifts commodity prices along with energy and materials stocks.

Exxon Mobil has become the latest major Western energy company to quit Russia following Moscow's invasion of Ukraine.

Investors are betting the war in Ukraine will deter central banks from raising rates, as they moved the ASX higher for a third consecutive day.

Consumer confidence dropped 2.6 per cent in the past week as the war in Ukraine began and storms battered Australia's east coast.

The Australian share market has closed 0.7 per cent higher on the back of gains in mining stocks but investors remained cautious.

The Perth man accused of conspiring with former bureaucrat Paul Whyte to siphon more than $20 million from a government department has denied participating in the rort.

Retail spending in Western Australia jumped 4.7 per cent month-on-month in January, while interstate consumers showed some caution.

Australia will immediately commit more than $4 million to a NATO fund for Ukraine to support non-lethal military equipment and medical supplies.

Australian shares remained volatile amid the geopolitical tensions in Europe, but ended marginally in the green.

Australia will roll out a third round of sanctions against Russia, aligning with US and UK moves, and will provide non-lethal military equipment to Ukraine.

Prime Minister Scott Morrison has backed calls to boycott sporting events in Russia in the wake of the Ukraine invasion.

About $70 billion of value has been erased from the ASX today, while the federal government is increasing pressure on Russia as the Ukraine crisis escalates.

Russian forces have fired missiles at Ukrainian cities and landed troops on its south coast, officials and media say, after President Vladimir Putin authorised what he called a special military operation in the east.

Prime Minister Scott Morrison won't freeze fuel excise, even as global oil prices near $US100 per barrel with Russia and Ukraine on the brink of all-out war.

Qantas' first half loss has climbed as travel demand slumped amid COVID-19 Delta lockdowns and the subsequent spread of the Omicron variant.

Investors saw enough value in ASX stocks to lift the market despite uncertainty around how economic sanctions on Russia may affect global trade.

Annual wages grew 2.3 per cent as of the December quarter, the highest since mid-2019, but still lagged well behind the rate of inflation at 3.5 per cent.

Woolworths has posted lower first-half profit while its boss warned prices will keep moving higher due to inflation.

Oil fetched its highest price since 2014 and the Australian share market slumped as Russian troops entered Ukraine and raised the threat of war.

Coles has delivered a 2 per cent drop in profit as higher costs and lower convenience store sales hit half-year results.

Super Retail Group has had first-half profit dive 35 per cent and warns higher freight and transport costs will continue to affect margins.

Telstra and TPG will share their regional networks with each other in what they claim will provide better service to people outside the major cities.

ASX investors gained hope and the oil price eased after news US and Russian leaders will meet to try and resolve the Ukraine standoff.

AGL Energy has rejected a takeover offer from a consortium led by tech mogul Mike Cannon-Brookes, but market experts say it's just a starting bid.

Fund manager Magellan has produced a turnaround in form but the Australian share market was weighed down by fighting in Ukraine.

The Business Council is calling for the skilled migration cap to be lifted to 220,000 over the next two financial years to deal with acute worker shortages.

The impact of January’s Omicron case surge on the labour force has been laid bare, with hours worked dropping almost 9 per cent, while unemployment remains at a 13-year low.

A late drop in trade following reports of shelling in Ukraine wiped almost all ASX gains and raised the prospect of sanctions against major oil producer Russia.