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In business:

The coal industry says mines will close and jobs will be lost if it doesn't get appropriate government assistance under a carbon tax. The Federal Government has begun the hard sell on its new carbon price but hasn't outlined how much compensation industries will receive. The Greens have previously pushed for coal to be excluded. The Coal Association says the industry would struggle if that happens under the new scheme.

New data in the United States indicates that consumer sentiment has reached a three-year high. The index by Thomson Reuters and the University of Michigan rose to 77.5 for February - that's up more than three points since January. Economists say people (are) aware of the improving economy and better job prospects.

And to the market numbers now, Wall Street stocks piled up solid gains Friday as investors digested easing oil prices. European stock markets closed higher on a technical rebound on Friday. London's FTSE 100 gained 1.37 per cent. In Frankfurt, the DAX added about 0.75 per cent. Elsewhere in the region, most markets finished stronger. Japan's Nikkei was up 74 points. And the local share market staged a rally late in the session to close higher for the first time this week. The Australian dollar is buying just over $US 1.