AAP

Insurers Suncorp and Allianz will be forced to repay almost $63 million to thousands of customers who were sold worthless or near-worthless insurance add-ons when buying cars at dealerships.

Diversified miner South32 has boosted its expectations for South Africa manganese production and maintained full-year guidance for all other products after a solid first-half performance.

The Australian share market is firmly in the red in early trade, following a negative lead from Wall Street.

The Australian dollar is starting the day just as it left off on Tuesday, amid a slight lift in the US dollar, a fall in commodity prices and little data to influence it.

Oil prices have dropped off three-year highs as traders booked profits but healthy demand underpinned prices near $USUS70 per barrel, a level not seen since the market slump in 2014.

Gold has slipped from the previous day's four-month high, reflecting losses across the commodities complex as the US dollar claws back some losses the day after hitting a three-year low against a basket of currencies.

The Australian share market has closed weaker, led into the red by retreating financial and energy stocks, while the Australian dollar continued its upward run towards US 80 cents.

Rio Tinto has maintained its target for iron ore shipments in 2018 after hitting the lower end of its full-year guidance in 2017.

The Australian share market is lower in early trade, after a lack-lustre showing on global markets and Wall Street closed for a public holiday.

The Australian dollar has continued its confident march toward 80 US cents as the greenback's weakness lingers with a holiday in the US.

Oil has hovered near a three-year high above $US70 a barrel on signs that production cuts by OPEC and Russia are tightening supplies, although analysts warned of a "red flag" due to surging US production.

Gold prices have hit a four-month peak as the US dollar index slumped to its lowest in three years but some analysts say the greenback's slide could be short-lived as it hasn't been driven by fundamentals.

The Australian share market has closed modestly higher after the miners offset weakness from the energy players and a flat performance by the banks.

Australian shares have started the week comfortably higher following record highs on US and British markets.

The Australian dollar is back above 79 US cents - just.

Oil prices have risen for a sixth day after Russia's oil minister said that global crude supplies were "not balanced yet," alleviating market concerns about a wind-down of the OPEC-led deal to reduce production.

Gold has hit a four-month high heading to a fifth straight weekly gain as the US dollar fell against the euro on an agreement for a political coalition in Germany.

The Australian share market has fallen away again at the end to close flat, as strong gains by miners and some energy companies offset losses among financial, property and consumer stocks.

Australian shares have opened higher following a surging US market on the back of a rise in oil prices and as investors bet on a strong US corporate earnings season.

The Australian dollar has extended the gain it enjoyed from November's better-than-expected retail trade figures.

Oil prices have risen about one per cent to three-year highs, pushing the global Brent benchmark past $USUS70 a barrel, on further signs of tightening supply in the United States and expectations that OPEC's output cuts would underpin the market.

Gold prices have approached a four-month high set on the previous day after minutes of a European Central Bank meeting showed a more aggressive tone and boosted the euro against the US dollar.

The Western Australian government has backflipped on a decision to scrap regional educational provider School of the Air along with the Gifted and Talented and Follow the Dream programs after a widespread community backlash.

Widespread selling has sent the share market to a second consecutive fall, while stronger than expected retail sales growth lifted the Australian dollar.

Retail sales rose 1.2 per cent nationally to $26.4 billion in November, in seasonally adjusted terms, beating market expectations of an increase of 0.4 per cent, while Western Australian retail spending was up 1.4 per cent for the month.

Australian shares have opened lower after Wall Street slid early in its session following a report that China could be set to stop or slow its US Treasuries purchases.

Crude oil prices have jumped, settling near three-year highs after US government data show a drop in crude inventories and production, even as fuel inventories rose.

The Australian dollar has rebounded from its previous session's loss against its weakened US counterpart.

Gold has risen, hitting its highest in nearly four months as the US dollar swoons after a report that Chinese officials had recommended slowing or halting purchases of US Treasury securities.

The share market has lost ground as investors pulled back following five straight sessions of gains.

Insurance giant QBE has appointed Vivek Bhatia as chief executive of its Australian and New Zealand business.

The Australian share market has opened up after key indexes around the globe finished stronger with some hitting fresh highs.