AAP

Oil prices were little changed overnight as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the US-China trade conflict.

Gold prices rose overnight and stayed above the key $US1,500 per ounce psychological level as stock markets slipped on concerns about global economic growth and the US-China trade dispute, triggering safe haven bids.

The Australian share market has finished up slightly, with a lifting in healthcare and consumer discretionary shares outweighing losses for the mining sector.

JB Hi-Fi shares have surged after the electronics and whitegoods retailer lifted full-year profit 7.1 per cent to $249.8 million and tipped more to come.

Nine looks set to take sole ownership of Macquarie Media, with an offer unveiled on Monday that values the 6PR, 2GB and 3AW talk radio owner at $275.4 million.

The Australian share market has opened lower after the heavyweight mining sector started the day in firmly negative territory.

Oil prices rose more than $US1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.

Gold prices steadied on Friday, on course for their best week in over three years, as interest rate cut-inclined central banks, escalating US-China trade tensions and negative debt yields around the globe kept prices close to $US1,500 per ounce.

The Australian share market has finished with modest gains to close out its worst week since November.

Reserve Bank of Australia Governor Philip Lowe believes the nation's economy may have reached a "gentle turning point", paving the way for growth to pick up again next year.

Oil jumped more than two per cent overnight on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in US-China trade tensions.

Gold edged down overnight as stock markets recovered, the US dollar strengthened and traders locked in profits after bullion surged past $US1,500 to a more than six-year high in the previous session.

The Australian share market has risen for a second day as US-China trade tensions eased and Chinese trade data beat expectations.

AMP has posted a $2.29 billon first-half loss on the back of a $2.35 billion impairment ahead of a large-scale overhaul of its slimmed down operations.

The Australian share market has opened lower as the heavyweight financial sector fell almost one per cent.

Oil prices tumbled nearly five per cent overnight after an unexpected build in US crude stockpiles and on fears of slowing demand but halved their losses in post-settlement trade on talk that Saudi Arabia was mulling options to halt crude's descent.

Gold soared more than two per cent overnight to breach the $US1,500 ceiling for the first time in more than six years as investors rushed to safe havens, spooked by a host of uncertainties including US-China trade and a slowing global economy.

The Australian share market has closed higher following two days of monster losses after being thrown a lifeline by central bankers across the Tasman.

The Australian share market has moved modestly higher, led by consumer stocks, following two days of monster losses.

The Australian dollar has hit a 10-year low against the US dollar after New Zealand's central bank cut the country's cash rate by a larger than expected 50 basis points.

Commonwealth Bank of Australia full-year profit has fallen 4.7 per cent to $8.49 billion after the nation's largest lender took a $1.2 billion royal commission-related hit.

Oil prices fell more than one per cent overnight, with Brent crude settling near seven-month lows below $US60 a barrel as trade tensions between the US and China intensified worries about weakening global demand.

Gold prices strengthened overnight, consolidating near the highest in more than six years as an intensifying US-China trade war threatened global economic growth.

Australia's share market has been hammered for a second straight day as it emerges as one of the biggest losers from the intensifying US-China trade war.

The Reserve Bank has held the cash rate at a record low 1.0 per cent amid what governor Philip Lowe called "increased" uncertainty for the global economy.

Property group BWP Trust has reported a 7 per cent fall in full-year profit but will still pay shareholders a special dividend, after selling four properties vacated by Bunnings for about $72 million.

Lynas Corporation's licence to operate a rare earths processing plant in Malaysia appears set to be extended, though it could be for a shorter duration than the usual three years, two sources with direct knowledge of the matter say.

The Australian share market has plummeted nearly three per cent at the open following significant losses on Wall Street overnight.

Global oil benchmark Brent futures fell more than 3.0 per cent overnight on global growth concerns after US President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world's two biggest buyers.

Gold surged 2.0 per cent overnight to its highest level in more than six years as a worsening US-China trade conflict prompted investors to dump riskier assets for safe havens, with a weaker US dollar supplying additional fuel for bullion's run.

The Australian share market has suffered its biggest loss since December 10, with every sector deep in the red after signs that China is striking back against the US in their escalating trade war.

Mining project approval delays will be the target of a one-year Productivity Commission review looking at how to streamline regulation across Australia's resources sector.