AAP

The Australian dollar is three-quarters of a US cent higher after US stocks rose more than one per cent, amid hopes there might be a solution to the Italian political crisis.

Gold prices edged higher on Wednesday as the US dollar wilted after data showed the US economy slowed slightly more than initially expected in the first quarter while political uncertainty lingered in Italy.

Oil prices surged on Wednesday, shrugging off an unexpected build in US crude stockpiles and rebounding from a four-day slump as Russia's central bank expressed caution on plans to boost oil supply.

The Australian share market fell below 6,000 points to a one-month low on Wednesday, with financial stocks slumping under investor concerns about possible economic fallout from Italy's political uncertainty.

Wilson Security has been ordered to repay $740,000 charged to Western Australian customers after missing 48,000 patrols.

Bankwest was overly optimistic about its business loans and failed to act on early warning signs of problems, the banking royal commission has heard

Australian shares have opened lower after US and European markets fell amid concerns about political instability in Italy.

The Australian dollar is lower after US stocks tumbled as political stability in Italy sparked caution among investors.

US crude futures fell more than $US1 on Tuesday on worries that Saudi Arabia and Russia will pump more crude to boost supplies after more than a year of reducing worldwide inventories.

Gold prices rose on Tuesday, as a deepening political crisis in Italy that provoked a second day of heavy selling on European financial markets.

The Australian share market has closed modestly higher as gains by major banks, healthcare companies and miners offset weakness in other sectors.

Optus has announced it is cutting 400 jobs, in addition to the 200 positions to be lost from its phasing out of the Virgin Mobile brand.

Shares in Galaxy Resources have surged after the lithium miner announced a $US280 million ($A371 million) asset sale deal with South Korean giant Posco.

The Australian share market is flat, with gains in financial stocks and BHP Billiton offsetting losses across other resource companies with little direction from overseas with the US and UK closed.

The Australian dollar is lower after European stocks lost ground in a quiet night of trade with US and UK markets closed for public holidays.

Oil prices extended losses on Monday as Saudi Arabia and Russia said they may increase supplies while US production gains showed no sign of slowing.

Gold prices fell for a second session on Monday as the US dollar firmed and after US President Donald Trump revived hopes that he would meet North Korean leader Kim Jong Un next month, lowering political tensions and demand for gold as a safe-haven investment.

The Australian share market has closed lower after weaker oil prices weighed heavily on the energy giants and mining giant BHP Billiton.

Telstra shares have fallen after the telco's ratings were downgraded due to intense competition across its core businesses and lower margins.

Australian shares have opened lower, dragged down by falls in the energy sector following a steep drop in oil prices at the end of last week.

The Australian dollar is almost unchanged from where it finished Friday's local session, after a mixed session on metals markets and the major Wall Street stock indexes finishing slightly lower.

Oil prices fell more than $US2 per barrel on Friday as Saudi Arabia and Russia discussed easing production cuts that have helped push crude prices to their highest since 2014.

Gold prices dropped slightly on Friday, but still remained above $US1,300 per ounce as investors digested news of US President Donald Trump saying a meeting with North Korea's leader could still go ahead.

The Australian share market has closed flat, with a lack of domestic and international news leaving investors with little to direct their activity.

A Queensland court has ordered the freezing of hundreds of millions of dollars of Clive Palmer's assets.

Labor's candidate for the Western Australian state seat of Darling Range has resigned after a week of having her credibility and study history questioned.

The Australian share market has opened lower, weighed down by falls in energy stocks, and concerns over the cancellation of the US-North Korea summit.

The Australian dollar is slightly higher despite falls on Wall Street, which were sparked by the cancellation of the US-North Korea Summit.

Oil prices fell about $US1 on Thursday, with expectations building that reduced supplies from Venezuela and Iran could prompt OPEC to wind down output cuts in place since the start of 2017.

Gold prices surged on Thursday, propelled above $US1,300 per ounce as the US dollar faded after US President Donald Trump called off a summit with North Korea, stoking political tensions.

Voters in two WA federal seats will likely go to by-elections on July 28 to avoid school holidays and await new rules for candidates.

The Australian share market has closed slightly higher as weakness among the banks, miners and energy companies was offset by gains by retailers and industrial stocks.