Finance news you need to know today

HOUSE prices have risen in most of Australia’s major capital cities while auction clearance rates have increased in all but two.

THE Australian market looks set to open flat with no real lead from Wall Street where tech stocks were the main catalyst for any lifts there were. At 0700 AEST on Tuesday, the share price futures index was down one point, or 0.02 per cent, at 5,676.

Meanwhile, the Australian dollar is higher against an unchanged US dollar. The local currency was trading at 76.05 US cents at 0700 AEST on Tuesday, from 76.03 on Monday.

WORLD FINANCE UPDATE:

CALGARY — Rapidly spreading wildfires in British Columbia have disrupted operations at two mining companies as more than 10,000 people were evacuated because of blazes across the interior of the Western Canadian province.

BRUSSELS — The European Union’s economic leaders have called for eurozone countries with high growth to spend more, an attempt to persuade Germany to step up its public spending and strengthen the bloc’s economy.

ISTANBUL — Russian Energy Minister Alexander Novak says construction of two power plants in Crimea will go ahead.

MONDAY HIGHLIGHTS:

TABCORP — The proposed $11 billion merger between wagering giant Tabcorp and lotteries and wagering firm Tatts Group is set for more scrutiny — this time by the Federal Court.

CSL — Australian vaccines and blood products developer CSL says it will vigorously fight a patent infringement claim launched by US-based biotech Bioverativ in relation to CSL’s haemophilia B drug, Idelvion.

SOUL PATTINSON — Soul Pattinson and Brickworks have been awarded costs after the federal court dismissed institutional fund manager Perpetual’s long-running legal bid to prove the conglomerate’s cross-owned structure lost value and behaved oppressively.

SOUTH32 — South32 shares have closed lower after the diversified miner said its Appin coal mine in NSW will remain closed for an “extended” period due to a safety review.

HOUSING — House prices have risen in most of Australia’s major capital cities while auction clearance rates have increased in all but two.

CIMIC — A CIMIC joint venture in the Middle East has been awarded a $A224 million contract to build several towers in Dubai.

SLATER — Shares in Slater and Gordon are in a trading halt on the ASX, after the stricken law firm paused for breath ahead of critical updates on its ongoing legal dramas.

ARDENT — Shares in Ardent Leisure have rallied after the Dreamworld theme park owner reported an improvement in visitation numbers.