AAP

Prime Minister Julia Gillard will push for a better deal for Australian exporters when she meets with US President Barack Obama at the White House.

Petrol prices rose to a near 29-month high in the past week, and motorists should prepare for fuel to rise by another four cents a litre in the next fortnight, an economist says.

Australian construction activity contracted for the ninth consecutive month in February amid tight credit conditions, weaker demand and higher interest rates, a report says.

Lower milk prices won't hurt the dairy industry, supermarket Coles says.

The number of jobs advertised online and in newspapers rose for the 10th straight month in February, suggesting demand for labour is accelerating reconstruction in Queensland continues.

The Australian share market followed Wall Street lower on Monday as oil prices surged on continued political tensions in the Middle East and several local stocks traded without a dividend.

Shares in Ramelius Resources rose after it reported high-grade gold results from deeper drilling its Wattle Dam mine in Western Australia and was admitted to the S&P ASX 300 index.

Crescent Gold has downgraded its third quarter gold production forecast after flooding hampered its Laverton mine in Western Australia.

Hong Kong-based Wah Nam International Holdings has extended its parallel takeover bids for West Australian iron ore explorers Brockman Resources and FerrAus by one month.

Australia's resource giants are taking measures to increase the amount of local work on major projects, West Australian Premier Colin Barnett says.

The Australian sharemarket ended the week on a high note, driven by gains in the materials sector after a positive lead from Wall Street overshadowed geopolitical concerns in the Middle East.

Rio Tinto says Sir Rod Eddington and Yves Fortier will retire as non-executive directors of the mining giant at the end of the annual general meeting on May 5.

Wayne Bergmann, the Kimberley Land Council head who has spearheaded Aboriginal negotiations over a controversial gas hub near Broome, is stepping down from the role.

Australia's biggest gold miner Newcrest Mining has nearly doubled its estimate of deposits at a mine in Papua New Guinea to more than 30 million ounces of gold.

The Australian sharemarket opened higher this morning after a positive lead from United States markets on the back of encouraging US economic data.

The Australian dollar was weaker this morning after a battery of US data signalled the US economic engine is firing up once again.

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US stocks soared on Thursday sparked by new data showing steady improvement in the jobs market, retail sales and the economy's service sector, and as oil prices eased slightly.

When audio engineer Tom Misner began showing people how to twiddle the knobs in the 1970s, he never imagined the business would sell for almost $300 million three decades later.

Ratings agency Moody's Investors Service has upgraded the outlook for Alcoa of Australia from negative to stable.

The Australian sharemarket proved resilient to a steady stream of negative news from the Middle East, closing flat on solid performances from resources and healthcare sectors.

A takeover bid of Perth-based oil and gas explorer Amadeus Energy hasn't been resolved and its shares remain in a trading halt, the company says.

Federal Transport Minister Anthony Albanese says the government's decision not to fund insulation for homes near Perth airport is based on science.

Ratings agency Fitch has resolved its negative rating watch on Downer EDI, praising the work of its new management team and playing down the impact of a troubled train project on the company's ability to win other work.

The Australian sharemarket has opened slightly lower despite positive economic and manufacturing data from the US and Europe overnight.

Wall Street stocks edged higher on Wednesday after a surprisingly strong report on hiring by private companies raised hopes that the job market may be improving.

Gold touched a record high above $1,440 an ounce yesterday, as a bullish confluence of political unrest in Libya, surging oil prices and easy monetary policies spurred safe haven buying.

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The Australian dollar opened higher after better than expected US private sector employment data heightened expectations for official US employment figures on Friday night.

PERTH house prices fell 1.5 per cent in January, amid a national fall of 1.6 per cent that further dampened growth as natural disasters swept across the nation, according to a recent survey.

The controversial boss of the discredited fuel pill company Firepower has failed to appear in court to seek a hearing on whether he can get his passport back.

The Australian sharemarket closed lower as tensions in the Middle East continued to rattle markets and spike up oil prices.