Estia shares fell as much as 12 per cent after it said it would cut fees it charges residents at its homes due to 'legislative uncertainty'.

The global recovery in dairy prices is emerging quicker than some forecasters anticipated, but it may not be enough to make much difference.

Citi sees the ASX 200 hitting 6000 points by the end of next year, profiting from a turnaround in resources, while Morgan Stanley is more cautious.

Dallas-based Caelus Energy says it discovered 6 billion barrels of light oil under Arctic waters.

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The local sharemarket is poised to open higher after Wall Street was boosted by a jump in the oil price.

The greenback advanced for a seventh day against Japan's currency on bets for higher US rates.