Selling is gaining pace on the local market, as the big banks and miners, along with energy stocks, all drop into the red, while Bradken soars on a takeover bid.

US stocks ended slightly lower on Thursday after European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action but said the issue would be addressed early next year.

Speculation the Reserve Bank will cut interest rates early next year has pushed the local currency to a fresh 4 ½-year low.

CSL chairman John Shine says an improving economic relationship with China, boosted by the recently inked free trade deal, has given Chinese entrepreneurs and executives confidence to push ahead with Australian joint ventures.

Growth in Chinese factories stalled in November as output shrank for the first time in six months, reinforcing expectations that authorities will roll out more aggressive stimulus .

Mirvac chairman John Mulcahy says a fundamental shortage of housing is driving the current housing boom.

Charter Hall Group has paid $171.4 million industrial portfolio leased to the leading Australasian poultry producer and processor, Inghams Enterprises, on behalf of its managed funds.

A new hotel will join retail and offices in a major mixed-use development.