The Australian share market closed higher for a sixth consecutive trading day with activity subdued after the Reserve Bank (RBA) left interest rates unchanged.

The New Zealand dollar remained below US77c against the greenback, unable to regain that level after reaching it for the first time in nearly eight weeks yesterday.

Export commodity prices hit new highs last month, raising the prospect of a substantial boost to the wider economy.

The New Zealand dollar reached a seven-week high against the greenback today on further evidence of rising commodity prices while investors continued to be more comfortable with risk.

Equities in Europe and on Wall Street advanced overnight amid optimism about a recovery in the US labour market.

Govt should beware of US intellectual property demands...

Commerce Commission plans to look at the supply of raw milk and manufactured dairy products may also open up the "cosy duopoly" of two big supermarket chains to scrutiny, Green MP Sue Kedgley says.

The Commerce Commission is investigating whether it needs to carry out a full-blown probe of the retail prices charged for milk, despite last week telling Parliament's commerce select committee it would not hold an inquiry into milk prices.

Rakon, which makes crystal oscillators used in navigation systems and smart phones, is on track to triple production when its new Chinese factory opens in July.

Stocks on Wall Street and in Europe eked out gains amid data that showed the all-important US consumer spent more than expected last month.

New Zealand's annual current account deficit shrank to a lower-than-expected $4.38 billion, or 2.3 per cent of GDP.

A radio competition which failed to adequately mention that winners would need to purchase overseas flights to claim their prizes has fallen foul of the Commerce Commission.