AAP

Shares in beef producer Australian Agricultural Company held steady on Tuesday as the federal government suspended live exports of cattle to several Indonesian abattoirs.

Energy and materials stocks lifted the Australian share market amid investor optimism about the euro debt crisis on expectations that Germany will provide aid to heavily indebted Greece.

Minerals explorer and developer Ivanhoe Australia has hosed down speculation it is contemplating a takeover bid for Perth-based Exco Resources.

Australia is suffering from a housing affordability crisis because of rising interest rates and uncertainty surrounding the Gillard government's planned carbon tax, the opposition says.

New laws to sell cigarettes in plain packets are set to pass parliament after the coalition swung behind the Gillard government move.

Households would receive an increasingly large share of the revenue raised from Labor's carbon tax at the same time as industry assistance dropped under a plan proposed by climate adviser Ross Garnaut.

The federal coalition has offered bipartisan support for a review of the live cattle export industry, but stopped short of advocating a complete ban.

Weak trade data will likely subtract from Australia's economic growth and may concern the central bank, economists say.

The West Australian government has imposed a winter sprinkler ban for Perth, Mandurah and other parts of state's southwest to boost water saving, with dams at less than 25 per cent capacity.

The head of Australia's second-largest telecommunications company says the proposed merger of Austar and Foxtel may raise competition concerns regarding content.

Westpac Banking Corporation plans to open two more branches in China after receiving final regulatory approval to open a branch in Beijing.

The Australian securities market has opened firmer despite an absence of significant leads from offshore trading overnight, with public holidays in the US and UK.

The Australian dollar was almost flat after a quiet night of trade ahead of key economic data releases later in the week.

European shares closed lower on Monday and are on track to end the month down as concerns over the euro zone debt situation weighed, with volumes thin as both U.S. and UK markets were closed for a public holiday.

China stokes mining boom – The Aus; Industries to receive 46pc of revenue – The Fin; Palmer calls on China to fund $2.7b Pilbara project – The West; Chevron close to domestic gas deal – The Aus; Margaret River won't be mined: Barnett – The Fin

Shares in Africa-focused Globe Metals and Mining rose today after it released positive rare earth exploration results.

Qantas Airways has suffered a further hiccup on its new flights to Dallas/Fort Worth, but the airline says it is confident the route is a viable one.

Australian stocks closed lower as weakness among finance-linked companies due to offshore concerns dragged the broader market into the red.

Musicians Jimmy Barnes, John Butler and ex Midnight Oil drummer Rob Hirst have sung in protest outside the head offices of two of Australia's biggest gas and petroleum companies.

Premier Colin Barnett will travel overseas this week to discuss the Commonwealth Heads of Government Meeting (CHOGM) in Perth in October, trade matters and the state's bid for a giant radio telescope.

Iron ore developer Sundance Resources has refuted a report that its majority shareholder Hanlong Mining is considering a full takeover of the company.

West Australian government MPs are being pressured by the Chinese consulate to avoid the Dalai Lama on his visit to Perth next month.

China's rapid economic growth is driving demand for more than just Australia's resources and is now providing opportunities for financial services, Trade Minister Craig Emerson says.

Iron-ore developer WPG Resources says it expects the mining regulator to approve its mining and rehabilitation plan (MARP) for the Peculiar Knob project in South Australia in July.

Figures released today confirm the likelihood the economy contracted in the March quarter.

The Australian stock market has opened weaker in directionless trade, on a lack of company news and public holidays in the UK and US.

A key member of the federal government's multi-party climate change committee is yet to be convinced a price on carbon is the way to address global warming.

A key measure of consumer confidence rose unexpectedly this month and Americans' spending and income climbed in April, giving stocks their third straight day of gains on Friday.

The Australian dollar was higher after commodity prices and US equity markets closed stronger in the offshore session on Friday night.

PM orders carbon tax blitz – The Aus; Banks told to prepare for more shocks – The Fin; Miners under cyber attack – The Aus; Barnett wins reprieve in WA power crisis – The Fin; Rocky Bay in war of words over pay row – The West

London-listed online gaming company Sportingbet has struck it lucky in the Australian market after internet gaming and wagering firm Centrebet International agreed to its $183 million takeover offer.

As the government's deadline for putting a price on carbon nears, members of the committee working on the scheme will roll their sleeves up for an informal weekend meeting.