AAP

Australian shares have ended the week on a high note, posting their best day since March as strong overseas markets added a tailwind and traders bought back into banks and miners.

Downer has again extended its offer for takeover target Spotless Group, with the hostile bid now stretched to June 29.

The Australian share market has opened strongly, with positive economic data in the US helping bolster optimism among local investors.

The Australian dollar is sharply lower against its US counterpart, dropping below 74 US cents after local and Chinese economic data disappointed.

Oil prices are lower despite finishing mixed on Thursday.

Gold prices have eased as the US dollar has rallied after a report showed that the US economy created more private-sector jobs than expected in May, further strengthening expectations for a June interest rate.

Five Exmouth councillors have quit, leaving commissioner Ian Fletcher to continue to oversee the troubled Western Australia local government until the election in October.

The Australian share market has closed higher after a choppy day of trade on the back of upbeat local data and negative Chinese factory figures.

Amazon poses the biggest threat to Wesfarmers' discount department stores Kmart and Target rather than specialty retailers like JB Hi-Fi, investment bank Morgan Stanley warns.

The Australian share market has slipped in early trade, following a benign lead from Wall street, with investors waiting on the sidelines for a clear signal about the direction.

Gold prices have risen as the US dollar has dipped and simmering geopolitical tensions lent support, though the metal was little changed for the month amid an increased chance of a US interest rate rise in June.

The Australian dollar is lower against its US counterpart after crude oil and iron ore fell three per cent.

Oil prices have sunk three per cent to a three-week low as an increase in Libyan output helped boost monthly OPEC crude production for the first time this year.

The share market has endured its worst month since January 2016, due to significant falls by the major banks and weaker iron ore prices.

The ASX has opened 6.6 points, or 0.1 per cent, higher to 5724.5 points this morning.

US stocks have inched lower, with the S&P 500 retreating slightly from a record, as weakness in the energy and financial sectors outweighed gains in technology shares.

Oil prices fell about one per cent on signs of resurgent crude output in Libya and concerns that extended production cuts by leading exporting countries may not be enough to drain a global glut that has depressed prices for almost three years.

Gold prices eased after hitting a one month high on Tuesday as economic data from the United States showed increased signs that the Federal Reserve would raise interest rates next month.

The share market has gained ground after bargain hunters helped drive a rebound in financial stocks.

Payday lender Cash Converters is overhauling its management as it works to improve lending practices and arrest a sharp slide in its share price.

Premier Mark McGowan has refused to reiterate his election promise made three months ago of no new taxes or tax increases, instead deflecting the issue by saying the state is in a "catastrophic" financial mess.

Poultry giant Ingham’s will continue to be Woolworths' main chicken meat supplier after the pair extended their national agreement.

The Australian share market has started the day marginally weaker, with no lead from US or British markets closed for public holidays.

The Australian dollar is higher against its US counterpart which also had ranged sideways with little data to direct it and traders in the US and Britain away for public holidays.

Oil prices have risen slightly, barely paring last week's steep losses with the market remaining cautious as increases in US drilling activity have undercut an OPEC-led push to tighten supply.

Gold has held near its highest in a month in holiday-thinned trade, with a softer US dollar and a retreat in stock markets helping the metal cling on to the previous session's gains.

A slide in banking stocks has driven the Australian share market to its lowest level since March as investor nervousness about regulatory activity weighs on financial stocks.

Plastic bags are being shunned by councils in Western Australia, which are making the most of Premier Mark McGowan's support for local governments to ban the bag. 

The Australian share market has started on a weaker note as investors brace for a slew of local and international economic data this week.

The Australian dollar is a little higher against its US counterpart as the US dollar lifted amid better-than-expected American gross domestic product figures and rebounding oil prices.

Oil prices have rebounded, rising more than one per cent, but Brent crude ended the week nearly three per cent lower after an OPEC-led decision to extend production curbs did not go as far as many investors had hoped.

Gold has risen to its highest in nearly four weeks as political uncertainty led investors to favour bullion over assets considered riskier such as stocks.