AAP

The Australian share market has opened sharply lower amid a new flare-up of US-Chinese trade tensions.

Oil prices fell on Friday after the Chinese government unveiled retaliatory tariffs against about $US75 billion worth of US goods including crude oil, another escalation of a protracted trade dispute between the world's two largest economies.

Gold surged 2.0 per cent on Friday as investors interpreted US Federal Reserve Chair Jerome Powell's speech as leaning toward a dovish monetary policy stance and US President Donald Trump's latest comments exacerbated trade tensions with China.

The Australian share market has surprised with a modest move higher despite a negative lead from Wall Street.

Australian energy giant Woodside Petroleum could be exporting liquefied natural gas to Vietnam as early as 2021.

Commonwealth Bank of Australia has renegotiated the sale of its CommInsure life insurance business to Hong Kong-based AIA for a reduced $2.375 billion.

The Australian share market is expected to open lower after a negative lead from overseas.

Oil prices weakened overnight on worries about the global economy and as equity markets were on edge over the uncertain outlook for US interest rate cuts.

Gold inched lower overnight after comments from US Federal Reserve officials dampened hopes for additional monetary easing, although investors awaited further clarity from the central bank chief at the Jackson Hole symposium.

The Australian share market has closed modestly up as investors digested a flurry of company results.

Former deputy prime minister and Nationals leader Tim Fischer is being remembered as an "Australian original" and "one of the finest" after his death at the age of 73.

South32 has announced it is in talks to sell its struggling South African energy-coal business to Seriti Resources, but its Worsley alumina operations performed strongly.

Coles' full-year profit has slipped 9.1 per cent to $1.43 billion, despite an increase in supermarket comparable sales as it invested in supply chain improvements and restructured following its spin-off from Wesfarmers.

Qantas has announced another share buyback and raised its final dividend despite higher fuel costs and a weaker Aussie dollar pulling down its full-year profit by 17 per cent to $1.302 billion.

The Australian share market has opened higher as investors digest a slew of company results.

Oil futures steadied overnight after US government data showed a drawdown in domestic crude stocks but rises in refined product inventories, while lingering worries about the global economy weighed on the market.

Gold edged lower overnight as equities gained and investors awaited minutes from the US Federal Reserve's July meeting for clues on future interest rate cuts.

The Australian share market has given up most of its gains from Tuesday, as markets around the world turned skittish ahead of a key meeting of central bankers.

Oil prices steadied overnight on optimism US-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown after falling earlier on concerns over future demand.

Gold rose overnight to firm above $US1,500, recovering from a more than 1.0 per cent slide in the previous session as US yields fell on increasing expectations for looser monetary policy to address fears of a global downturn.

The Australian share market has enjoyed strong gains for a second straight day, with every sector advancing.

Seven West Media aims to wring every drop of value from its traditional media assets after reporting a $444.5 million full-year loss and flagging another fall in earnings for the year ahead.

BHP has announced a record final dividend of 78 US cents a share but the global miner's underlying profit has narrowly fallen short of expectations.

Oil prices gained roughly 2.0 per cent overnight after a weekend attack on a Saudi oil facility by Yemen's Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a global slowdown.

Gold prices fell more than 1.0 per cent overnight as concerns eased that major economies could tip into recession, boosting investors' affinity for risk and detracting from bullion's safe-haven allure.

The Australian share market has rallied to recoup some of last week's stinging losses as global recession fears ease.

A woman accused of stealing almost $163,000 from her boss was kept on staff after he uncovered the thefts but threatened to "ruin his reputation" when he reminded her about repaying it, a Perth court has heard.

Mid-tier goldminer Saracen Minerals Holdings has reported record full-year profit of $92.5 million, up 22 per cent from the previous financial year, while Regis Resources reported a profit decrease.

Westpac has reported a further rise in the number of people missing mortgage payments with Western Australia continuing to be the main problem area.

The Australian share market has rallied at the start of trading after a positive lead from overseas at the end of last week.

Oil prices rebounded from a two-day drop on Friday alongside share markets as expectations of further stimulus by central banks helped to ease recession concerns.

Gold fell on Friday as stocks and the US dollar firmed but fears of a slowing global economy and lack of clarity on the US-China trade conflict kept bullion on track for a third straight weekly gain.