AAP

Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion.

Oil prices inched up on Friday as strong US economic data boosted demand sentiment and as production losses in sanctions-hit Iran and Venezuela tightened the market.

Gold was headed for its biggest daily rise in two months on Friday, clawing away from a four-month low hit in the previous session, helped by a pullback in the US dollar and as some investors covered their short positions.

Australian shares have finished flat as investors wait word on US jobs data.

Macquarie Group beat full-year profit guidance to reach a record, but its share price has slumped on a subdued outlook for the next 12 months.

Australian shares have opened higher led by gains in the health care sector.

Oil plunged overnight, with US crude dropping almost three per cent as the market grappled with oversupply fears as increased US sanctions on Iran had more gradual impact than expected and US crude oil inventories rose sharply.

Gold prices slumped to an over four-month low overnight after the US Federal Open Market Committee (FOMC) axed any hopes for a rate cut in the near term, subduing demand for the non-interest bearing bullion.

The Australian share market has closed lower, with the major banks losing much of their previous day's gains after NAB cut its dividend.

National Australia Bank has slashed its dividend to its lowest in almost nine years after posting a first-half cash profit of $2.95 billion.

Govermment funds earmarked for a biomass energy plant and solar farm at Collie have been transferred to a new $60 million job creation fund that aims to create a long-term future for the town as coal mining winds down in coming years.

Supermarket giant Woolworths has lifted third-quarter grocery sales by 4.2 per cent, reaping the benefits of lower deflation and more favourable weather conditions.

The Australian share market has opened lower after the major banks lost much of their previous day's gains following NAB's first-half profit announcement.

Gold prices dropped to a one-week low overnight as the US dollar rebounded after the Federal Reserve reduced expectations of a rate cut this year, with the safe-haven metal also pressured as the central bank signalled strong economic growth.

Oil futures ended little changed overnight after supply curbs, including further talk on an extension to OPEC-led cuts, offset rising US crude inventories and record production.

A strong first-half performance by ANZ has lifted the financial sector, pushing the Australian share market higher.

ANZ Banking Group has beaten expectations to lift first-half cash profit two per cent to $3.56 billion but warned subdued credit growth, competition and compliance costs will keep bank sector earnings under pressure "for the foreseeable future".

Australian shares have opened higher as the financial sector led gains after ANZ lifted its first-half profit

Oil prices pared their gains overnight, after global benchmark Brent crude rose above $US73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Maduro would hit the country's crude exports.

Gold prices firmed overnight as the US dollar slipped to a one-week low, making bullion more attractive, with investors awaiting the Federal Reserve's interest rate decision this week to gauge the outlook for US monetary policy.

The Australian share market has closed lower for a second day, dragged by the energy, mining and utility sectors.

Electricity and gas retailer Origin Energy has posted a 53 per cent rise in third-quarter gas production revenue from its stake in Australia Pacific LNG, driven by higher oil prices.

Nine Entertainment has agreed to sell its regional and community newspapers for $115 million, offloading about 170 titles acquired last year in its merger with Fairfax Media.

The Australian share market has opened lower and looked to be heading further downwards, with the major miners among the largest losers.

Oil prices edged higher overnight as the market attempted to resume a weeks-long rally that was halted on Friday when US President Donald Trump demanded that producer club OPEC raise output to soften the impact of US sanctions against Iran.

Palladium slumped about seven per cent overnight in its biggest daily percentage drop in more than two years while gold also fell as strong US data improved investors' appetite for riskier assets ahead of the US Federal Reserve policy meeting.

The Australian share market has had its worst day in three weeks with the financial and energy sectors weighing heavily as analysts await economic clues from the US and China

An independent candidate for former foreign minister Julie Bishop's safe seat claims she is the victim of a "supposed hoax" involving fake opinion polling data and has refused to pull out of the election race.

Coles has lifted third-quarter food and liquor sales 2.1 per cent to $8 billion, boosted by its latest kid-focused collectables campaign.

Prime Minister Scott Morrison has promised 1000 shipbuilding jobs at Henderson, and opposition leader Bill Shorten has pledged $75 million towards mining exploration, ahead of their debate tonight in Perth.

The Australian share market has opened lower despite Wall Street hitting new record highs, with the energy sector leading the losses.

Oil prices fell three per cent on Friday after US President Donald Trump again pressured the Organisation of the Petroleum Exporting Countries to raise crude production to ease petrol prices.