AAP

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.

Qantas shares have hit a record high after US investment bank Goldman Sachs upgraded its rating on the airline.

The share market is trading slightly higher following a positive lead from Wall Street where indexes hit fresh record highs.

The Australian dollar is a little lower against its US counterpart which has pared losses after data showed that US service sector growth had accelerated which could lead to a December interest rate rise.

Oil prices have fallen after a surprising jump in US crude exports to a record two million barrels per day fans worries about global oversupply.

Gold pared has gains as the US dollar came off its lows on strong data from the US service sector index.

The share market has fallen for a second straight session as international investors sold shares on concerns about a weaker outlook for the Australian dollar.

Injury-prone Thanasi Kokkinakis will fill the shoes left by Nick Kyrgios at this summer's Hopman Cup tennis tournament in Perth, where some of the world's top players, including Roger Federer, Alexander Zverev and Angelique Kerber will compete.

The competition watchdog has delayed its decision on BP's $1.8 billion acquisition of more than 500 service stations owned by Woolworths.

A $2.7 million upgrade to the rundown Broome Regional Prison in Western Australia will include bolstered security measures, larger recreation spaces, beds, a prisoner reception area and new women's cells.

The Australian share market has slipped in early trade, losing ground for a second straight day as investors ignored a positive finish on Wall Street.

The Australian dollar is higher after it got a boost from gains on Wall Street driven mainly by strong sales data from General Motors and Ford.

Oil prices have dipped as speculators took profits for a second day after big third-quarter gains and on concerns that higher prices might spur increased US shale production.