AAP

Brent oil futures settled slightly higher overnight, rebounding from a drop after US President Donald Trump revived investor hopes that the United States might not raise tariffs on Chinese imports, a step that could hit economic growth and crimp oil demand.

Gold prices rose overnight, supported by a weaker US dollar and as investors sought safe-haven assets after US President Donald Trump warned a trade deal with China was in danger, sending global stocks lower.

Australian shares have finished higher despite weakness in the mining sector, as investors watch the US-China trade talks for a chance of a deal.

Qantas has posted a 2.3 per cent rise in third-quarter revenue and forecast record annual revenue, as more business travellers chose to fly with the airline.

Bulk grains handler GrainCorp says it will not pay shareholders an interim dividend after it swung to a $59 million half-year loss following severe drought conditions and trade disruptions.

Oil futures gained one per cent overnight, boosted by a surprise drawdown in US crude stockpiles but an escalating US-Chinese trade fight limited oil's gains as investors worried about the global outlook for energy demand.

Gold prices slipped after climbing to a more than three-week peak overnight as safe haven demand eased after the White House said it had received an indication from China that Beijing wanted to make a trade deal.

Australian shares have closed lower amid renewed concerns about US-China trade tensions, but a feared rout of the market was avoided.

A legal dispute between Australia's richest person Gina Rinehart and two of her children will be heard in private after the High Court ruled in her favour.

TPG Telecom shares have crashed along with those of Vodafone's local joint venture partner after the competition watchdog blocked the communications giants' $15 billion merger.

Oil prices closed at their lowest in about a month overnight as renewed doubts over a US-China trade deal stoked concerns over global growth and on expectations that US crude stockpiles could hit fresh 19-month highs.

Gold prices gained overnight as stock markets weakened after a US threat to hike tariffs on Chinese imports renewed trade tensions and improved demand for safe-haven bullion.

The Australian share market has closed up slightly, having given up some of its gains following the Reserve Bank's decision to keep rates on hold for a record 33rd month.

The Reserve Bank of Australia has resisted temptation to cut the cash rate from its record low 1.5 per cent, but a move could still be on the horizon after it flagged concerns at the pace at which unemployment is falling.

Australia's trade surplus dropped four per cent in March, to a seasonally adjusted $4.95 billion.

Rio Tinto has agreed to buy a fleet of autonomous trucks and other mining equipment from Caterpillar for its new Koodaideri iron ore mine in Western Australia.

The Australian share market has opened higher thanks to a boost from the major miners ahead of the central bank's decision on interest rates.

Oil futures edged higher in volatile trade overnight as rising tensions between the United States and Iran buoyed prices after they touched a one-month low following US President Donald Trump's threat that he may raise tariffs on Chinese goods.

Gold edged up overnight as a slide in global share markets after the US government's threat of further tariffs on China prompted investors to favour safe-haven assets, but bullion's upside was capped by a firm US dollar.

Two tweets by Donald Trump have tanked the local bourse - along with markets around the globe - as investors worried the US-China trade war might not be so close to resolution after all.

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.

The Australian share market has opened lower with investors apparently spooked by renewed concerns about the trade conflict between China and the United States.

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.