AAP

Vocus Communications has appointed former Optus boss Kevin Russell as managing director and chief executive, three months after Geoff Horth quit the broadband provider in the wake of an earnings warning.

Australian shares have opened lower, dragged down by the banks and after all three major US stock indexes posted a weekly loss as the markets grappled with US-China trade talks.

Gold prices rebounded on Friday, as the US dollar eased after Italian political tension sparked a sell-off in the country's bond markets and investors sought a safe haven in bullion.

Oil prices fell on Friday, but Brent crude marked its sixth straight week of gains, boosted by plummeting Venezuelan production, strong global demand and looming US sanctions on Iran.

The Australian dollar is flat after Wall Street stocks finished Friday's session flat or in negative territory.

Australian shares have closed weaker as mining and banking stocks lost ground, despite the energy sector and vaccines giant CSL giving the local market a shot in the arm.

The Australian market has opened flat as surging CSL and energy shares negated a soft lead from Wall Street.

The Australian dollar is slightly lower after US stock ground as investors worry over as possible escalation of US-China trade tensions.

Oil prices climbed above $US80 a barrel on Thursday for the first time since November 2014, before retreating on a stronger dollar and climbing US output to end unchanged.

Gold was flat after sliding to a fresh 2018 low on Thursday as another rise in US bond yields held the US dollar index near its 2018 peak.

Australian shares have fallen as Westpac traded ex-divided and the industrial and healthcare sectors lost ground.

Despite adding 8,300 jobs in April, Western Australia has retained the highest unemployment rate in the country, according to latest data from the Australian Bureau of Statistics.

US private equity firm Harbour Energy has made a binding offer for Santos that confirms an original price tag of $US10.4 billion ($A13.8 billion).

The federal government has endorsed changes to the livestock export industry designed to improve animal welfare but the WA government says it may still try to ban live sheep exports to the Middle East during the northern hemisphere summer.

Atlas Iron will record a non-cash impairment of up to $100 million in its full-year results after rising costs led to an operating loss in its third quarter.

The Australian share market has opened in the red, weighed down by the banks as Westpac goes ex-dividend.

The Australian dollar has bounced back overnight and is higher against the US dollar which has preserved its recent gains but made little headway.

Wall Street has edged higher as retailer Macy's strong results helped drive gains in retails stocks and more than offset losses in energy shares.

Oil prices have gained ground, shaking off the effects of a strengthening dollar, after an inventory report showed US crude and petrol stocks fell more than expected.

The Australian share market closed higher as energy companies were boosted by higher oil prices.

Myer has warned unseasonably warmer weather could dent its fourth-quarter profit after third-quarter sales dipped 2.7 per cent to $635.3 million.

Australian shares have opened slightly higher, shrugging off a fall on Wall Street overnight, helped by overnight gains in oil prices and a lift in mining stocks as the Aussie dollar falls

The Australian dollar is lower after US stocks fell almost one per cent, amid worries about US-China trade relations and the release of disappointing US retail spending figures.

Oil prices settled a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that US sanctions on Iran are likely to restrict crude exports from one of the biggest producers in the Middle East.

Gold slid more than one per cent on Tuesday, falling for a third day to hit its lowest this year as a rise in US borrowing costs pushed up the US dollar and overshadowed the impact of strife in Gaza.

The Australian share market lost ground amid widespread losses, including sharp falls in the telco sector following Telstra's earnings warning.

Australian shares have opened marginally lower after US stocks handed back earlier gains to finish only slightly higher.

The Australian dollar is lower after US stocks handed back earlier gains to end the session only slightly higher, and copper prices fell.

Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated, while US crude's discount to global benchmark Brent widened to more than $7, its deepest in five m

Gold slipped on Monday as the US dollar strengthened and precious metals prices remained within a tight range as investors awaited key US data.

The Australian share market has closed higher, with gains in the resource and healthcare sectors overshadowing a hefty fall in Telstra shares to an almost seven-year low.

Julie Bishop and Mathias Cormann have backed the Liberal Party's decision not to contest the Perth and Fremantle by-elections, saying it would be a waste of money.