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Shares open 32pts higher

Investors are snapping up growth stocks, including resource and financial companies, pushing the Australian share market higher.

Morning Headlines

Rio Tinto's $3.2bn coal sellout

Perth CBD office vacancy hits 25-year peak

Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.

$A creeps higher against $US

The Australian dollar is slightly higher against its US counterpart, which recouped losses suffered following US president Donald Trump's protectionist comments.

Gold slips from late 2016 highs

Gold has fallen nearly one per cent, sliding from a two-month peak as investors take stock of US President Donald Trump's first policy moves and the US dollar stabilises after plumbing seven-week lows.

Oil up as OPEC output cuts drain stocks

Oil prices had edged higher ahead of weekly US inventory data on evidence the global market is tightening as lower production by OPEC and other exporters drains stocks.

Sandalwood refinery boost for Goldfields

A new sandalwood oil processing facility has been opened in the Goldfields.

Builton failure a costly housing hit

The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.

Shares close 39pts higher

The Australian share market has closed higher as positive news from steelmaker BlueScope Steel and medical device maker ResMed buoyed investors ahead of the main company earnings season in February.

Nickel sales up for Western Areas

Local miner Western Areas closed flat on the ASX despite posting an increase in cash on hand and nickel sales in the three months to December.

Iron ore price rise helps Atlas

A higher iron ore price has helped Atlas Iron post operating cash flow of $58 million in the December quarter, as the company maintained that it would reach a net cash position by the middle of the year.

Sandfire to pay off $50m DeGrussa debt

Copper-gold miner Sandfire Resources says it plans to use its strong cash position to pay off what remains of a $380 million facility it took out for construction of its DeGrussa mine in 2011.

Car parks a speedbump for Belmont hotels

Perth's hotel development boom is spilling out of the CBD and into the City of Belmont, but developers are encountering issues in providing enough parking to support their proposals.

Double take on Woodside logo

Woodside Petroleum's impending move to its new offices has provided an unexpected visibility and branding boost, with the oil and gas company's logo appearing on two prominent Perth CBD skyscrapers.

Emeco surges on solid quarter

Shares in Emeco Holdings surged after the mining equipment supplier posted a solid performance in the December quarter, with fleet utilisation numbers up and positive earnings results.

Tech solutions in need of problems

OPINION: Tech marketability increasingly depends on a back-to-basics approach to usefulness.

Politics drowns out effective water policy

ANALYSIS: Politics is getting in the way of timely and cost-efficient delivery of much-needed major projects.

Oil Search forecasts steady output

A strong fourth-quarter performance has helped Oil Search narrowly beat its full-year production guidance, and the company forecasts steady output for 2017.

Cimic makes bid for Macmahon

Construction giant CIMIC Group has proposed to acquire all the shares it doesn't own in Perth-based Macmahon Holdings, with the deal valuing the target at about $174 million.

Shares open 3.3pts higher

The Australian share market has opened slightly higher as strong commodity prices help offset negativity around US President Donald Trump's protectionist agenda.

Morning Headlines

Fair Work dysfunction needs fixing

$A hardly changed against $US

The Australian dollar is virtually unchanged against its US counterpart which has fallen to a seven-week low against a basket of key world currencies amid investor concerns over protectionist rhetoric by US President Donald Trump.

Gold hits 2-month high on $US fall

Gold has risen to touch its highest in two months as unease over the economic policies of US president Donald Trump pushes investors towards safer assets while the US dollar and US bond yields fell.

Oil down as drilling recovery offsets cuts

Oil prices have fallen nearly one per cent as signs of a strong recovery in US drilling largely overshadow news that OPEC and non-OPEC producers were on track to meet output reduction goals.

Hall & Prior proceeds with $67m development

Hall & Prior Health and Aged Care Group has today announced plans to proceed with a $67 million aged care facility in High Wycombe, due for completion in the second half of 2019.

Builton fails, administrator appointed

One of state's biggest residential construction firms, Builton Group, has succumbed to the financial stresses engulfing the sector, appointing an external administrator earlier today after reports of the company's financial troubles emerged last week.

KeepSafe to open Welshpool facility

The parent company of self-storage business KeepSafe Storage has announced plans to open its third facility in Western Australia, committing $10 million towards the purchase of land in Welshpool and construction of the new site.

Sims hits back on union Western Power campaign

Australian Competition and Consumer Commission chairman Rod Sims has written to the local branches of two trade unions, saying they misrepresented his views on the float of Western Power in a recent advertisement campaign.

Shares close 43pts lower

Australian shares have closed lower, weighed down by major logistics firm Brambles' profit warning and uncertainty around the direction of new US President Donald Trump's administration.

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