AAP

Alliance Aviation shares flew higher after it said it expected to make a $40 million profit in FY20, up from $32.8 million in FY19.

The federal government will consider university plans to bring back international students as long as they can quarantine them properly.

The Morrison government has welcomed the World Health Assembly agreeing to establish an independent inquiry into the coronavirus pandemic.

The possibility of gas playing a key part in Australia's economic recovery after the coronavirus has reignited debate about the energy source's credentials.

Shares have sunk by almost 1.0 per cent in early ASX trading following caution about early results of a coronavirus vaccine test.

US crude ended slightly higher overnight, as US Treasury Secretary Steven Mnuchin said he supported extending certain measures intended to bolster the economy, while Brent ended lower on concerns that output cuts might not be sufficient.

Gold rose overnight amid uncertainty over how economies would emerge from a deep slowdown, although optimism about a potential vaccine for the novel coronavirus capped bullion's advance.

The local bourse has busted out of its trading range to close at a two-month high as share markets around the globe rallied on hopes for a coronavirus vaccine.

Gutted Australian barley growers have warned of a bitter blow to the nation's economy after China confirmed today it would introduce an 80 per cent tariff on imports.

Shares have surged by more than 2.0 per cent in early ASX trade, taking the lead from overnight gains on Wall Street due to rising hopes of a coronavirus vaccine.

Oil prices overnight jumped to their highest values in over two months on positive early results on a potential coronavirus vaccine, optimism about a resumption in economic activity and signs producers were following through on planned output reductions.

Gold retreated overnight from a more than seven-year high, as stocks and oil surged on optimism surrounding the trial of a potential COVID-19 vaccine.

The Australian share market has gained more than one per cent for the second straight day, with miners shining after iron ore and gold prices both jumped.

BGH Capital has entered into talks with Village Roadshow to acquire the cinema and theme park owner for between $429.4 million and $468.5 million.

Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30 per cent from more than 105,000 at the end of March, Bloomberg News reports.

Four private equity firms are the leading candidates to buy Virgin Australia, the biggest regional casualty of the coronavirus crisis in the global aviation industry.

Normality is starting to resume for Western Australians with cafes, restaurants and pubs reopening their doors and workers returning to offices

Shares on the Australian market are off to a good start, with a gain of more than 1.0 per cent and most sectors trading higher.

US crude prices have reached their highest price since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.

Gold prices have jumped to levels last seen in 2012, as renewed US-China trade tensions added to concerns about a deep economic slump due to the coronavirus pandemic.

The whipsaw action on the Australian share market has continued for a fifth straight day of back-and-forth action.

Virgin Australia is expected to receive as many as eight non-binding indicative offers from potential buyers, which will be whittled down over the next few days to a shortlist of around three, its administrators said.

Shares on the Australian market were up by about one per cent in early trade and most industry sectors were higher.

Oil prices settled higher overnight after the International Energy Agency (IEA) forecast lower global stockpiles in the second half of 2020, although worries remain that a second surge in coronavirus infections could occur in coming months.

Gold climbed to a three-week high overnight, propelled by safe-haven demand, as investors ditched riskier assets on concerns over long-drawn economic weakness and renewed US-China trade tensions.

The volatile Australian share market has plunged 1.7 per cent, repeating a familiar pattern as it trades in a fairly tight range.

Virgin Australia's administrators at Deloitte will have a better sense of which parties are interested in buying the beleaguered airline, when non-binding indicative offers are made tomorrow.

The number of Australians in employment have fallen by 594,300 people in April, with Western Australia recording 62,300 fewer people in full- or part-time work following coronavirus-related lockdowns.

NBN Co says it has connected 670,000 premises in the March quarter, with 11.2 million homes and businesses connected to the broadband network by March 31.

Graincorp has swung to a half-year profit of $388 million following the sale of its Australian Bulk Liquid Terminals business and demerger of United Malt.

Share market investors have seen a dip on the ASX in early trading, with nearly all industry sectors lower.

Oil prices fell about 2 per cent overnight despite the first decline in US crude inventories since January, as the US Federal Reserve chairman stoked demand fears with a warning the economy would take many months to recover from the coronavirus pandemic.