AAP

The Australian share market drifted away from early gains to close flat on Thursday as investors considered the effect a new high for the Australian dollar.

Starting next year, every AFL game for the next five seasons will be broadcast live under the new TV and internet rights deal which was finalised on Thursday.

The Australian dollar moved further into record territory on Thursday after the US central bank indicated it would not raise interest rates in the near future.

The Australian share market was almost half a per cent stronger at noon, trading off its highs of the session as traders digested a new high for the Australian dollar and what it means for stocks and interest rates.

The Australian share market opened higher on Thursday, boosted by strong offshore leads after the US Federal Reserve left interest rates unchanged and flagged the possibility of more economic stimulus.

Share registry Computershare Ltd says it will buy a US share services operation, The Bank of New York Mellon Corporation's Shareowner Services Business, for $US550 million ($A510 million) cash.

The Nasdaq Composite index hit its highest level in more than 10 years on Wednesday as US stocks pushed upward after the Federal Reserve left interest rates unchanged.

The Australian dollar was over half a US cent higher on Thursday morning, almost niudging the 109 US cents level.

The Australian dollar breached yet another post-float high and is marching towards 110 US cents and after stronger than expected inflation data raised expectations that interest rates may have to rise to curb price pressures.

Mortgage lending will remain fragile over the next 12 months, forcing banks to maintain profit margins by finding better deals on their own borrowing, a new report concludes.

The Australian share market was weaker on Wednesday on concerns over falling metals prices and higher inflation data.

The upcoming West Australian budget will fund those most in need at levels never seen before, Premier Colin Barnett says.

Australia's March quarter inflation rate was higher than expected and economists predict it will stay high for the remainder of 2011, which means a rate hike is almost certain this year.

The Australian share market opened higher after positive leads from offshore, but gains were capped by subdued commodities prices.

The Australian dollar has broken the 108.00 US-cent mark for the first time since the currency was floated in December 1983.

US stocks rose sharply on Tuesday amid a batch of solid company earnings reports and as investors awaited the outcome of a two-day Federal Reserve meeting.

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The Perth Entertainment Centre will be demolished in the coming weeks as work gets under way on sinking the inner-city rail line, West Australian Premier Colin Barnett says.

The Australian share market closed more than one per cent higher heading into the longer-than-usual Easter break, with gold and energy stocks outperforming the index after commodity prices climbed overnight.

West Australian Premier Colin Barnett has reassured traditional owners the government won't go ahead with compulsory acquisition of land near Broome for a proposed gas hub until they have met and made a final decision.

Brockman Resources says it will make a final investment decision on its West Australia-based Marillana iron ore project next quarter.

Electronics, furniture and electrical products retailer Harvey Norman Holdings says total sales for the third quarter of the 2011 financial year rose 1.6 per cent, but like-for-like sales were down 4.6 per cent.

Detainees who have rioted and destroyed property at Australia's mainland detention centres should be shipped offshore immediately, West Australian Premier Colin Barnett says.

Equinox Minerals has postponed a meeting of shareholders to vote on its takeover offer for a Canadian base metals miner following a Chinese group's informal bid to acquire Equinox.

Producer prices have risen higher than market expectations in the March quarter and suggest next week's inflation figures may also be higher, economists say.

Business conditions remained soft in the first quarter of the year but confidence has bounced back strongly, a survey shows.

Labor's old carbon pollution reduction scheme was better than the one it is offering now, the lobby group for Australia's 100 biggest firms says.

Atlas Iron reported a slight fall in iron ore production and exports in the third quarter due to the weather in what has been an otherwise buoyant period for the miner.

Oil refiner and petrol retailer Caltex Australia says it expects short term volatility in refiner margins to continue, after revealing the extent to which high oil prices have hurt the company's margins.

The Australian share market opened higher with all market sectors gaining following a rally on Wall Street overnight, and the Australian dollar reached a new record high.

The Australian dollar has surged to a new post float record, after Wall Street finished at its highest point in nearly three years.

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