AAP

Oil prices edged higher on Friday after earlier falling more than 1.0 per cent following comments from US President Donald Trump that he had not agreed to roll back tariffs on China.

Gold extended losses to a three-month low on Friday as positive developments in US-China trade talks tarnished the metal's safe-haven appeal, putting it on track for the biggest weekly decline in three years.

The Australian share market has closed flat, as gains in riskier assets on optimism the US and China could reach an interim trade deal was offset by declines in defensive stocks.

The Reserve Bank has confirmed a downgraded full-year economic growth forecast for 2019 and now thinks it will take longer before growth starts heading back toward its unchanged longer-term target.

News Corp is in talks to sell News America Marketing after impairments against the advertising business helped drag the media giant to a $US227 million first-quarter loss.

The head of one of Australia's biggest banks believes further interest rate cuts by the central bank may have a negative impact on the economy, rather than giving it a boost.

The Australian share market is trading flat despite a positive lead from overseas and a surge from energy stocks.

Oil rose above $US62 a barrel overnight after the Chinese government hinted at progress towards a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.

Gold slid about 2.0 per cent overnight to its lowest level in over a month as investor appetite for the safe-haven metal decreased after a US official confirmed that the US and China agreed to roll back tariffs as part of the first phase of a trade deal.

Shareholder activists have failed in their attempt to get BHP to quit industry lobbying groups that didn't back strong action on climate change, but still are hailing the result of the vote

The Australian share market has had its best day in nearly 10 weeks, with every sector except energy posting strong gains.

Flight Centre says its travel business is experiencing turbulence, with its profit for the first four months of the financial year well down on the same time last year, even as total transaction value increased.

NAB will pay a reduced final dividend after its full-year profit dropped 10.6 per cent to $5.1 billion, dragged down by its retail and wealth unit along with $1.1 billion in remediation provisions.

The Australian share market has opened higher despite a mixed lead from Wall Street, with tech shares helped higher by a strong first-half result for Xero.

Oil prices fell overnight after a much larger than expected build in US crude inventories and after Reuters reported that the signing of a US-China trade deal could be delayed until December.

Gold prices rose overnight, a day after sliding 2.0 per cent, as doubts about a US-China trade breakthrough buoyed demand for the safe-haven metal.

New car sales across Australia have gone backwards for the 19th month in a row, the country's peak motor industry group says, with sales in Western Australia also down sharply.

The Australian share market has wiped out all of its gains from its three-day winning streak, and then some.

Virgin Australia says it will retire five ageing aircraft and reduce domestic capacity by 2 per cent in the first half of next year, including scrapping two services to Perth, as it focuses on more profitable routes.

Australia's financial and consumer watchdogs aren't happy with Facebook's proposed global digital currency Libra, also known as the "Zuck Buck".

Boral says first-quarter earnings have dipped across all three of the building materials maker's divisions, reaffirming guidance for a full-year profit drop of between five and 15 per cent.

The Australian share market is trading flat, having given up its morning gains in a repeat of the previous day's session.

Oil prices rose more than 1.0 per cent overnight on hopes for a US-China trade agreement and optimism that the US could roll back some tariffs on Chinese imports.

Gold fell 2.0 per cent overnight, en route to its biggest one-day dip in over a month, as expectations the United States may drop tariffs on Chinese imports assuaged some fears of a global recession.

The Australian share market has closed higher for the 10th session in 12 days, but losses from Westpac and goldminers kept the gains subdued.

Australia's resources industry is expected to be one of the biggest winners from a massive Asia-Pacific free-trade pact that covers half the world's population.

The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, while keeping the door open for future cuts if the low cost of borrowing and tax cuts fail to stimulate the economy.

Mining and energy shares have helped drive the Australian market higher at the open after stocks on Wall Street gained overnight.

Oil prices rose overnight, buoyed by an improved outlook for crude demand as better than expected US jobs growth added to market hopes a preliminary US-China trade deal would be reached this month.

Gold edged lower overnight as investors leaned towards riskier assets, driven by optimism on US-China trade talks and fading fears of a global economic slowdown.

The Australian share market has closed higher for the ninth time in eleven days, with a big day for the mining sector outweighing a slide in major bank stocks.

Westpac has cut its dividend for the first time in a decade after the bank's full-year profit dropped 15 per cent to $6.85 billion.