AAP

Metcash has swung to a $192.8 million full-year profit after cycling through its South Australian contract impairments, but its share price has taken a tumble after a decline in food earnings and higher finance costs weighed on the IGA supermarket supplier's underlying result.

The Australian share market has opened lower, with every sector except materials and telecommunications slipping into the red.

Oil futures rose about one per cent on Friday, with US crude up 10 per cent and global benchmark Brent gaining 5 per cent in the week, on fears the United States could attack Iran and disrupt flows from the Middle East - an area which provides more than a fifth of the world's oil output.

Gold prices surpassed $US1,400 on Friday before retreating, still holding near a six-year high on the US central bank's dovish stance on monetary policy.

The Australian share market has closed lower for the first time in three days, with all sectors in the red except for energy and mining stocks.

Lynas Corporation won't cash in on the sharp short-term increase in rare earths prices related to the US-China trade war, saying it will stick to the long-term strategy it announced last month.

An internal investigation is under way at the corporate watchdog over the collapse of investment company Sterling First, which Business News first revealed had entered administration last month.

Industrial Relations Minister Christian Porter says the peak construction and mining union should be deregistered and he's prioritising laws that could help make that happen.

The Australian share market has opened flat despite gains on Wall Street overnight.

Gold prices surged to a near six-year peak overnight after the US Federal Reserve bank signalled it was ready to cut interest rates as early as next month to boost growth, triggering a sharp fall in the US dollar.

Oil soared more than five per cent overnight after Iran's army shot down a US military drone, raising fears of a military confrontation between the two countries.

The Australian share market has closed higher for a third day, with gains in most sectors and gold miners a standout as the price of the precious metal jumped to a six-year high.

National Australia Bank says it's putting its money where its mouth is by allocating $2 billion to boost high-growth tech companies over the next five years. 

The Australian share market has opened flat with early losses for the energy and mining sectors.

Oil futures were mostly steady overnight as price support from a larger-than-expected decline in US crude inventories was countered by a lull in equities.

Gold prices climbed overnight after the US Federal Reserve signalled interest rate cuts were possible later this year as it responded to increased economic uncertainty and tepid inflation.

The Australian share market has surged by more than a percentage point to hit another 11-year high amid indications Chinese-US trade tensions could be easing.

CSIRO has licensed a nontoxic gold mining technique to a Perth company it says could double production for smaller gold producers.

The federal government has ruled out bringing the next sitting of parliament forward a week to legislate its promised tax cuts by the end of this financial year.

The Australian share market has opened higher after a positive lead from overseas following indications of easing Chinese-US trade tensions.

Oil prices rose more than $US1 a barrel overnight after news that China and the United States were resuming trade talks ahead of a meeting at the G20 summit later this month, spurring hopes that the two countries would resolve an ongoing trade conflict.

Gold prices pared gains overnight after US President Donald Trump confirmed he would meet with Chinese President Xi Jinping at an international summit, fanning hopes for a quick end to the US-China trade dispute.

The Australian share market has closed broadly higher following the release of board meeting minutes indicating the Reserve Bank is likely to cut interest rates again in the months ahead.

The Australian share market is higher at midday, with most sectors except telecom industrials posting gains.

Coles shares have hit a new high after the supermarket announced a $1 billion cumulative savings target over four years to compete with new discount grocery market arrivals such as Lidl and Kaufland.

Oil prices fell more than one per cent overnight after more poor Chinese economic figures fanned fears of lower worldwide oil demand.

Gold prices slipped further overnight after sliding from a more-than-14-month high the previous session on upbeat US economic data that dampened expectations the Federal Reserve could ease interest rates.

The Australian share market has given up its early gains to close lower, dragged down by the big miners and the telecommunications sector.

Vocus Group shares have lost nearly a third of their value after AGL Energy abandoned a $3.02 billion takeover proposal less than a week after making a second offer for the internet provider.

Oil rose about one per cent on Friday after attacks on two tankers in the Gulf of Oman last week raised concerns about potential supply disruptions but prices remained on track for a weekly loss on fears that trade disputes will dent global oil demand.

Gold prices retreated on Friday as upbeat US retail sales somewhat eased fears that the economy was slowing down in the second quarter.

The Australian share market has edged higher and hit another 11-and-a-half year peak in the process.