AAP

The Reserve Bank has kept the official cash rate at a record low of 1.5 per cent despite noting Australian economic growth probably slowed in the second half of 2018.

The former chief of staff to ex-NAB boss Andrew Thorburn has been arrested over a $40 million fraud against the bank.

Australia's current account deficit has narrowed 33 per cent to $7.2 billion in the three months to December as higher commodity prices boosted the value of exports.

Coles is offloading management of its 87 pubs, including four in Western Australia, in a $200 million deal with private equity controlled Australian Venue Co.

Australian shares have moved lower, erasing all of the market's gains of the previous day.

Oil prices rose slightly overnight as the United States and China appeared closer to reaching a formal agreement to end a trade war that has slowed global economic growth while Russia said it would speed up its crude production cuts.

Gold dipped overnight to its lowest in more than five weeks as the US dollar and equities prices rose on optimism about a possible trade deal between the United States and China, while platinum shed 3 per cent as investors took profits from a recent rally.

The Australian share market has finished higher for a third day, hitting its highest level in five months.

Two more government frontbenchers are expected to resign over the weekend, leaving Scott Morrison's ministry team even further depleted just weeks out from an election.

Woodside Petroleum and Santos, Australia's top two independent gas producers, are being urged by activist investors to set carbon emissions targets to help limit climate change.

The cash-strapped company that received Western Australian government funds despite not meeting milestones attached to a wave power project has been suspended from trading on the Australian stock exchange for failing to lodge its half-year financial report.

Australia and Indonesia are just days away from signing a landmark free trade deal to bring new access to markets for agriculture and education.

The Australian share market has opened in positive territory despite the major miners starting the day with losses.

Brent oil fell while US crude futures steadied overnight as US-China trade tensions persisted, both Chinese and Indian economies showed signs of slowing and news of surging US production undermined OPEC-led output curbs.

Gold retreated to a two-week low overnight as the US dollar recouped losses on stronger-than-expected US economic data, setting bullion on course for its first monthly decline in the last five.

Australian shares have rebounded to close higher for another day, the last official day of earnings season.

Hospital operator Ramsay Health Care said it is on track to meet its full-year guidance after lifting first-half profit 9.6 per cent to $270.4 million.

Harvey Norman has lifted first-half profit on a strong performance at its overseas ventures, but sales at the company's Australian franchises were weak.

Rio Tinto has upped its estimates for the amount of iron ore at its deposits in the Pilbara region, a day after its earnings beat expectations.

Shipbuilder Austal has increased its shareholder payout after announcing a two per cent lift in first-half profit on its expanding US Navy and commercial ferry work.

Australian shares have dipped lower as gains in the energy and health care sectors were cut down by the rest of the market.

Oil futures jumped more than 2 per cent overnight after US crude inventories unexpectedly plunged and as top OPEC producer Saudi Arabia appeared unfazed by pressure from US President Donald Trump to prevent oil prices from rising.

Gold prices fell to their lowest in nearly two weeks overnight, pressured by a mild revival in the US dollar after comments from the US Trade Representative dampened expectations of a quick resolution to the US-China trade dispute.

Australian shares have finished higher on gains by the big miners and banks while investors took stock of several new earnings reports.

Australia's biggest miner Rio Tinto says it will return billions to shareholders, after it recorded a 2 per cent rise in underlying earnings for 2018, to US$8.63 billion ($12.2 billion).

Vocus Group says it is shifting its focus from the "complex and economically unattractive" NBN in favour of offering customers 5G fixed wireless.

Australian shares have climbed higher on gains by the big miners and banks while investors took stock of several new earnings reports.

Oil futures steadied overnight on signs that OPEC plans to maintain production cuts despite pressure from US President Donald Trump, whose comment criticising rising crude prices sent the market into a tailspin a day earlier.

Palladium broke past $US1,550 an ounce for the first time overnight on the back of intensifying supply deficit, while gold steadied after US Federal Reserve Chairman Jerome Powell reiterated the central bank's patient stance in further rate hikes.

Australian shares have fallen across the board, led lower by the tech sector that had been the main gainer a day earlier.

TPG Telecom will make $228 million of first-half write-downs related to its decision to stop building its mobile network.

Australian shares have fallen across the board, led lower by the tech sector that had been the main gainer a day earlier.