AAP

Oil prices have fallen for a second consecutive day overnight after US President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China.

Gold traded in a narrow $US5 range overnight as investors gauged the impact of US backing of Hong Kong protesters on its trade negotiations with China while palladium scaled a record peak on a sustained supply crunch.

The Australian share market hit a fresh intraday all-time high in early trading as fears about global growth and trade fade into the background.

About 27,000 casual school workers including cleaners and gardeners will be compensated after being underpaid by Western Australia's Department of Education.

The Westpac money-laundering scandal will be front of mind when the banking watchdog faces another grilling from federal politicians next week.

Westpac is allowing investors to withdraw from a $500 million share purchase plan it launched two weeks before a money laundering and child exploitation scandal hit the lender's share price.

The Australian share market has spent the morning session setting fresh all-time highs, mirroring gains on Wall Street overnight.

Oil eased overnight after a report showing US crude inventories grew unexpectedly last week and gasoline stocks surged but losses were limited by optimism that a US-China trade deal would be reached soon.

Gold fell overnight as equities climbed to record levels bolstered by hopes that the United States and China were close to signing an initial trade deal and by the release of robust US economic data.

The Australian share market has closed higher for a fourth day, rallying to eclipse its all-time closing high set on July 30.

New figures suggest the Australian economy is still crawling along at a growth rate below two per cent, but Reserve Bank governor Philip Lowe has made it clear that negative interest rates are "extraordinarily unlikely" in response.

Woolworths chief executive Brad Banducci has given up a potential $2.6 million bonus over the supermarket giant's wage underpayment scandal.

The Australian share market has risen, with every sector advancing after stocks on Wall Street hit record highs.

Oil prices rose overnight after news that US and Chinese officials discussed trade while predictions for a weekly draw on US crude stockpiles lent some support as well.

Gold edged higher overnight from a two-week low hit earlier on Tuesday after data showed US consumer confidence slipped in November, with investors eager for more details on the long-awaited trade agreement between the United States and China.

The Australian share market has closed higher for a third day, with gains across every sector except consumer discretionary shares.

Evolution Mining has agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corporation for $US375 million ($A553 million) in cash.

Cleanaway says it will rebuild its fire-damaged recycling facility northeast of Perth.

Westpac chief executive Brian Hartzer is stepping down and chairman Lindsay Maxsted will follow as Australia's second largest bank tries to keep hold of customers appalled at its money laundering and child exploitation scandal.

Caltex Australia has received an $8.6 billion unsolicited takeover offer from Canadian convenience store operator Alimentation Couche-Tard.

The Australian share market has opened higher, with every sector advancing, following gains on Wall Street overnight.

Oil prices edged higher overnight as positive comments from the United States and China rekindled hopes in global markets that the world's two largest economies could soon sign an interim deal to end their trade conflict.

Gold fell for a fourth straight session overnight, hitting a two-week low as investors' appetite for riskier assets increased on renewed optimism that a resolution to the protracted US-China trade conflict will soon be reached.

The Australian share market has moved higher after signs that China is willing to raise penalties on intellectual property theft, a key sticking point in its trade war with the US.

The company behind Masters dairy products is moving from Japanese to Chinese ownership, after the dairy heavyweight behind the $1.5 billion bid for organic infant formula maker Bellamy's Australia agreed to acquire Lion Dairy & Drinks.

Caltex Australia shares have jumped on plans by the fuels operator to launch a property IPO and float a 49 per cent stake in 250 retail sites.

The Australian share market has moved higher after a positive lead from overseas at the end of last week.

Oil prices fell on Friday, pulling back from two-month highs as concern over US-China trade talks overshadowed expectations of an extension to OPEC+ production cuts.

Gold prices edged lower on Friday as the US dollar and Treasuries strengthened after data showed US manufacturing output and services activity picked up, limiting demand for the yellow metal.

The Australian share market has closed higher for the first time since Tuesday, despite Westpac dragging the financial sector down.

Metcash shares have dropped more than 10 per cent to a four-month low after 7-Eleven chose not to renew its contract with the wholesale food and beverage supplier when it expires in August.

One in three Australians were losing out on $6 billion a year in super, a parliamentary inquiry has been told.