AAP

Shares in Woolworths have fallen after the supermarket giant finalised its exit from its disastrous Masters hardware venture by completing the sale of its store sites.

The Australian share market is trading a narrow range at the start, as weakness in some key sectors offsets gains in others.

Wall Street's main indexes are little changed at the open, as a jump in shares of consumer staples were offset by a drop in financials on the eve of their financial reports.

The Australian dollar is higher against its US counterpart which slipped overnight following a small fall in US treasury yields.

Oil prices have risen for the third day as OPEC forecast higher demand for 2018 and heightened tensions in Kurdistan supported prices.

The Australian share market has gained ground due to a positive lead from overseas markets, an upgrade of the International Monetary Fund's global economic growth forecasts, and stronger prices for copper and oil.

An employee and a contractor of state government-owned energy supplier Horizon Power have each been charged following an investigation by the state's corruption watchdog into allegations of serious misconduct.

Premier Mark McGowan says the Liberal Party has been grossly irresponsible by voting to block the gold royalty hike and is urging them to reverse the decision.

Vodafone has launched a new network that will reduce company costs and create greater power efficiency for businesses by wirelessly connecting millions of devices to the internet of things (IoT).

The Australian share market has opened higher, following on from solid lead in the US, with the major miners, and three of the four big banks leading the way.

The Australian share market is expected to open higher after the major US stock indices hit record highs overnight.

Oil prices rose about two per cent on Tuesday, supported by Saudi Arabian export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of oversupply.

The price of gold has touched its highest point in nearly two weeks, supported by a softer US dollar and geopolitical tensions in Spain and North Korea, though gains were capped by expectations of another US interest rate increase.

The Australian share market is steady after a quiet session, as the energy sector weakened and AMP and poker machine maker Aristocrat Leisure were among the best performers.

The Turnbull government's Northern Australia Infrastructure Facility has agreed to issue its first loan, but the project still needs Deputy Prime Minister Barnaby Joyce's tick of approval.

The Australian share market is off to a flat start start after a weak lead from Wall Street, which had light trading volumes due to the Columbus Day public holiday.

Oil prices inched higher on Monday after one of the most bearish weeks in months, propped up by OPEC comments signalling the possibility of continued action to restore market balance in the long term by agreeing to output cuts.

Gold prices rose on Monday, erasing all of the previous week's losses, as a weaker US dollar and the resilience of a key chart level removed some downward pressure, while the return of Chinese buyers to the market also lent support.

The Australian share market has closed higher as investors were encouraged by US economic data showing stronger wages growth, and a positive performance from China's share market which resumed trading after a week's holiday.

Engineering group WorleyParsons is seeking to raise $322 million to fund the acquisition of AFW UK Oil & Gas, which provides services to the oil and gas sector in the UK.

Federal Court proceedings have been issued in the shareholder class action against Commonwealth Bank of Australia, which is being funded by Perth-based IMF Bentham.

The way GST revenue is carved up among the states needs a proper fix, rather than more "band-aids and bolt-ons", federal Treasurer Scott Morrison says, but politicians from states winning from the existing distribution are set to oppose change.

The Australian share market has started the week higher, seemingly shrugging off last week's slightly lower close on Wall Street and renewed worries over North Korea.

The Australian dollar is slightly higher against its US counterpart which ended lower on Friday.

Oil futures fell more than two per cent on Friday, ending Brent crude's longest multi-week rally in 16 months as oversupply concerns reappeared as producers have started hedging future drilling.

Gold bounced up from a two-month low on Friday, on concerns stoked by a Russian report that North Korea is preparing to test a long-range missile and on support from the U.S. dollar's shift into negative territory.

The Australian share market has closed higher, boosted by the mining, energy and banking sectors, ahead of key market-moving US jobs data due overnight.

Federal minister Christian Porter has traded barbs with Transport Minister Rita Saffioti after the pair attended a press conference to promote the start of a joint Commonwealth and state funded road project.

The local share market has opened higher with the heavyweight financials, major miners, and oil and gas producers leading gains.

Oil prices have risen about 2 per cent as signs Saudi Arabia and Russia will limit production through next year pushed the US benchmark back above $US50 a barrel.

The dollar index rose to a 2-1/2-month high after data showed the US trade deficit narrowed in August as exports of goods and services rose to a more than 2-1/2-year high, while jobless claims fell more than expected.

The share market has closed flat as banks continued their recent declines, Qantas hit new highs and the the major iron ore companies managed minor gains.