AAP

The Australian share market has plunged at the open on heavy losses for the big banks after an APRA suggestion to suspend their dividends and a downgrade to their credit ratings.

Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis.

Gold prices have fallen over 1.0 per cent, retreating from a near one-month high hit earlier in the session, as signs of slowdown in coronavirus cases in major epicenters boosted equity markets, drawing away some of the bullion's safe-haven appeal.

The Australian share market has been unable to sustain its early gains, closing down after officials in the US ruled out a return to normalcy until a coronavirus vaccine is found.

Zelira Therapeutics shares have surged more than 25 per cent after a clinical trial showed its medical marijuana drug candidate successfully treated chronic insomnia.

The Reserve Bank of Australia has left the cash rate at 0.25 per cent and reaffirmed a 25 basis-point yield target on three-year Australian government bonds.

ASX-listed energy producer Oil Search is tapping investors for $1.16 billion in order to withstand a prolonged period of low oil prices.

The Australian share market has surged by as much as 2.6 per cent amid a global rally on signs the coronavirus death toll is slowing.

Gold prices surged over 2.0 per cent to a more than three-week high on Monday on expectations of global stimulus measures to counter the economic damage caused by the outbreak of the novel coronavirus.

Oil prices have slumped, pulling back from last week's gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.

The Australian share market has rallied by more than 4 per cent, with all sectors posting gains as the COVID-19 epidemic showed some signs of plateauing in Europe.

The announced closure of several regional newspapers has prompted the release of $5 million in federal government funding to "help keep local communities informed" during the coronavirus crisis.

Virus-cruelled travel firm Flight Centre is tapping investors for $700 million as business grinds to a halt amid widespread travel bans and shutdowns.

Australian shares have surged at the start of a new week despite a weak lead from virus-rattled overseas markets.

Global benchmark oil prices are expected to open lower as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week.

Gold prices edged higher after gloomy US nonfarm payrolls data magnified the economic toll from the coronavirus, although a stronger dollar capped bullion's advance.

The Australian share market has given up all of its strong early gains and then some, falling by more than 1.5 per cent for a second day.

Retail spending increased more sharply than expected in February thanks to a surge in spending on basic necessities in supermarkets and department stores.

An overnight oil price surge has fuelled a strong open for the Australian sharemarket, with big energy stocks climbing by as much as 18 per cent.

Crude prices posted their biggest-one day gains on record after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.

The Australian share market has dropped again amid increasingly dire warnings about how bad the coronavirus crisis could get in the United States.

Commonwealth Bank of Australia has further bolstered its coronavirus support for home loan and credit card customers.

Westpac has permanently appointed Peter King as chief executive on a $2.4 million salary with incentives.

The Australian share market has lurched back into the red after US stocks were hammered overnight on warnings of a mounting coronavirus death toll.

Oil prices have fallen after US crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic.

Gold prices firmed as investors sought safe-haven assets after sombre US economic data exacerbated fears of an economic downturn amid increasing lockdowns and other restrictions globally to combat the coronavirus pandemic.

The Australian share market has rallied as coronavirus-fuelled volatility continues, even as the Reserve Bank released minutes showing members were worried about the likelihood of a recession.

Online travel agency Webjet will raise $275 million and retailer Kathmandu Holdings will raise $201 million, to deal with the impact of COVID-19 on their businesses.

Hundreds of emergency flights will send fresh produce to key export markets in a bid to help Australian farmers and fishers under economic pressure due to the coronavirus.

The Australian share market has opened two per cent higher as coronavirus-fuelled volatility continues.

Gold prices dipped over 2.0 per cent to their lowest level in a week as the US dollar firmed, but the metal was on track for a sixth straight quarterly rise on concerns about the global economic damage caused by the coronavirus pandemic.

Crude oil benchmarks ended a volatile quarter with their biggest losses in history, as both US and Brent futures were hammered throughout March on the global economic freeze due to the coronavirus pandemic and the eruption of a price war between Russia and Saudi Arabia.