AAP

The Australian share market has breifly broken through the 5,000 point mark as a better than expected profit by Commonwealth Bank boosts sentiment.

Leighton Holdings has returned to profit and driven down debt after least year's heavy losses, and forecast further growth in the year ahead.

A Labor MP insists there is no chance a revived mining industry campaign about the resources rent tax could claim another prime minister's scalp.

Property group Stockland has suffered a $147.1 million interim net loss and flagged lower earnings for the full year.

Commonwealth Bank's first half net profit is up one per cent to a record $3.66 billion.

One of the construction partners for the $37.4 billion national broadband network is significantly behind with its cable rollout in Western Australia, South Australia and the Northern Ter

The Dow blue-chip stock index has climbed back above 14,000 to a fresh five-year high as markets await President Barack Obama's State of the Union address.

Labor leader Mark McGowan has backed gay marriage and euthanasia during an online question and answer session.

Mining giant Rio Tinto is expected to post a full year net profit of more than $9 billion, driven by the company's iron ore business.

The Australian dollar has fallen to a fresh three-month low on speculation North Korea had carried out a fresh nuclear test.

The Australian sharemarket finished flat after the All Ordinaries index pushed through the significant 5000 point barrier earlier in the day.

Engineering company Bradken has impressed the market by declaring that last year's economic downturn in resources had bottomed out while posting a solid half year profit.

Qantas Airways says its nine million frequent flyers will be able to use points to redeem flights across the Emirates network from March 31.

Business-focused telco Amcom Telecommunications has delivered a 20 per cent lift in first half profit and flagged a similar result for the full year.

The federal government has no plans to change the design of its mining tax, Prime Minister Julia Gillard says.

The central bank will have to cut the cash rate again at some stage given the chronic low levels of business and consumer confidence, a leading business group says.

Business confidence in January mostly held on to its gains made in December, helped by a rally in the local sharemarket, a private survey says.

Gains by the major banks have pushed the Australian share market toward the 5,000 point level.

Independent MP Rob Oakeshott feels the Gillard government partly duped him about the design of its mining tax.

US stocks have closed barely lower, with buyers finding little fresh inspiration after last week's five-year highs to offset a fall in energy shares.

The Australian dollar is slightly higher following a quiet day of trading, with Asian markets closed due to the Lunar New Year holidays.

The Australian share market closed lower, led down by falls in mining-related sectors.

Australian sheep are still being brutally slaughtered at a livestock market in Kuwait despite complaints to the federal government, an animal welfare group says.

The state government will hold urgent talks to prevent a bus drivers strike after a second gas bus fire.

Oil and gas producer Nexus Energy says it has found the source of a fault that has halted production at its Victorian gas fields for a month but more work is required before output can be resumed.

The Liberal party's highly anticipated light rail plan will cost $1.8 billion and move 25,000 commuters a day.

Tax concessions within Australia's superannuation system are not as generous as those in other countries.

Shares in JB Hi-fi have soared by more than 15 per cent after the electronics retailer announced it had lifted its first half profit by three per cent.

Shares in Alkane Resources shot up 14 per cent this morning after the minerals explorer announced it has been granted a mining lease for its Tomingley Gold Project near Dubbo in NSW.

The Australian stock market has opened flat, with strong gains in consumer discretionary stocks offset by weakness in mining-related sectors.

Opposition to the carbon tax by Western Australia's Labor leader Mark McGowan has been ridiculed by the state's Liberals as electioneering by a "fence sitter".

The federal opposition says the Prime Minister Julia Gillard and Treasurer Wayne Swan are to blame for a substantial shortfall in mining tax revenue.