AAP

Oil prices were mixed overnight, lifted by solid demand and output cuts led by the Organisation of the Petroleum Exporting Countries though gains were capped by an ongoing surge in US supply.

Gold fell more than one per cent overnight, slipping below $US1,300 for a second time this month, as fears of a "no-deal" Brexit faded and the US dollar gained versus the pound ahead of a vote to extend the deadline for Britain's exit from the European Union.

The S&P 500 has slipped, snapping a three-day streak of gains, as uncertainty over when a trade deal between the United States and China would be reached left investors on edge.

The ASX200 has closed higher for the first time in five days, driven by the energy and tech sectors.

Commonwealth Bank of Australia is suspending the demerger of its mortgage broking and wealth management businesses to focus on customer remediation and implementing the recommendations of the royal commission.

The consumer watchdog is calling for an overhaul of Australia's product safety laws to help reduce the two deaths and 145 injuries it says are caused each day by unsafe products.

The head of the Australian Taxation Office has declared "integrity is everything" after the organisation was cleared of allegations it had executed a widespread cash grab on small businesses.

Gains in the energy and mining sectors have failed to make up for losses in consumer discretionary shares on the ASX.

Oil futures rallied more than 1 per cent overnight as an unexpected drop in US crude inventory and a forecast of slower than expected supply growth from the world's top crude producer boosted prices.

Gold hit nearly a two-week high overnight as tepid US economic data reinforced views the US Federal Reserve would be patient on monetary policy, with bullion's appeal also bolstered by uncertainty over a Brexit deal ahead of a key vote.

The Australian sharemarket has closed lower for a fourth straight day, after a vote in the British House of Commons cast the Brexit process into disarray.

Chinese telecommunications giant Huawei will continue to work on a digital radio system for Perth's rail network after the Western Australian government was assured the company could deliver the contract.

Tyre recycling company Pearl Global has signed a conditional placement agreement with cornerstone investor ROC Asset Management to fund the addition of thermal desorption units.

Prime Minister Scott Morrison has ramped up his attack on Labor's plan to lift wages, accusing Bill Shorten of forcing business to sack people to give others pay rises.

Listed investment firm Keybridge Capital has unwrapped a $20 million takeover bid for loss-making confectionary company Yowie.

Australian shares have fallen with losses across almost all sectors of the market.

Oil prices edged slightly higher overnight, supported by signs of tightening global supply after a Saudi official said the kingdom plans to cut oil exports in April, while the US government reduced its forecast for domestic crude output growth.

Gold gained overnight as the US dollar slipped after tame US inflation data supported the Federal Reserve's "patient" stance on interest rate hikes, while investors awaited a key Brexit vote.

Australian shares have closed down slightly as an early rally couldn't be sustained.

An emotional Western Australian premier has promised to reimburse more than $2,000 in accommodation costs after coming under fire for bringing his family on official regional trips, saying "hurtful" and "vile" attacks by the opposition must stop.

Mortgage brokers will continue receiving trail commissions beyond 2020 under a federal coalition government, with Treasurer Josh Frydenberg revealing a plan to scrap them has been dropped.

A BHP Group rail maintenance crew applied brakes to the wrong locomotive when they tried to help the driver of a runaway iron ore train, which ended up being deliberately derailed in the Pilbara region.

Intellectual property firm IPH has made a $197 milllion hostile takeover bid for Xenith IP, just three weeks before Xenith shareholders were scheduled to vote on a merger with QANTM Intellectual Property.

Consumer confidence "nosedived" last week as the GDP results showed the Australian economy had entered a so-called per-capita recession, ANZ Banking Group analysis said.

Australian shares have opened higher as energy stocks bounced after oil prices jumped more than one per cent overnight.

Oil prices rose more than 1 per cent overnight, lifted by comments from Saudi Energy Minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June.

Gold fell overnight, moving further off the key $US1,300-per-ounce mark it briefly surpassed in the previous session, as global equities rallied following last week's slide with stronger-than-expected US retail sales allaying some fears of an economic slowdown.

The Australian sharemarket has started the week on a down note, with energy investors appeared spooked by news the world's largest wealth fund plans to sell its stakes in oil and gas companies.

Australia's visa rules have been relaxed to make it easier for farmers to hire skilled seasonal workers. The new rules also apply to tennis coaches, artists, dentists and anaesthetists among a handful of other professions.

Newcrest Mining will pay Toronto-listed Imperial Metals Corp $US807 million ($A1.15 billion) for a majority stake in a Canadian copper and gold mine.

Australian shares have opened lower after negative leads from overseas at the end of last week.

Oil prices fell about 1 per cent on Friday after disappointing US job growth revived concerns about a slowing global economy and weaker demand for oil.