AAP

The Australian share market has started the session strongly with investors returning to the market in force after Emmanuel Macron's election as French president and a rebound in US jobs growth.

The Australian dollar is up against its US counterpart which has slipped despite stronger-than-expected US jobs figures.

Gold has pared its gains after data shows US job growth rebounded in April and stayed on track for its biggest weekly loss in six months as expectations for a US interest rate hike in June grew and eurozone political risk receded.

Oil prices have closed 1.5 per cent higher, rebounding from five-month lows, following positive US jobs data and assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut.

The share market has closed lower for a fourth consecutive session on the back of sliding commodity prices with an iron ore slump weighing on the local currency.

The Reserve Bank of Australia seems content to leave interest rates on hold this year, with its growth and inflation forecasts slightly improving

Macquarie Group has lifted full-year profit 7.5 per cent to a fresh record of $2.217 billion and expects a similar performance in 2018.

The Australian Competition and Consumer Commission on Friday said in a draft decision it had decided against declaring a wholesale domestic mobile roaming service because there was insufficient evidence to show this would improve overall competition.

The Australian share market has continued its downward move in early trade, with steep losses in the mining and energy sectors offsetting a bounce in financial stocks.

Corporate Australia wants Canberra to deliver wider tax cuts for business and boost "good" spending in the federal budget next week, even as it urges the politicians to agree on a quicker path to a budget surplus.

The Australian dollar is higher against its US counterpart as the greenback is sold off.

Oil prices have plunged to five-month lows amid record trading volume in Brent crude, as OPEC and other producers appeared to rule out deeper supply cuts to reduce the world's persistent glut of crude.

Gold prices have fallen to the lowest in more than six weeks, on expectations of further US interest rate increases this year and receding political uncertainty in Europe.

Qantas has forecast a better-than-expected annual underlying pre-tax profit of between $1.35 billion and $1.4 billion, the second largest in its history, on the back of the strength of its domestic operations.

The share market has fallen for a third straight session as the big banks continue to slide.

Caltex has shored up its post-Woolworths future with the competition watchdog approving its takeover of Victorian fuel retailer Milemaker Petroleum.

National Australia Bank has lifted first-half profit to $3.29 billion while putting more money aside for soured loans amid an impending oversupply of east coast apartments.

Mining giant Rio Tinto expects further growth in Asia on the back of China's One Belt One Road initiative, which is expected to result in heavy infrastructure investments in the region.

The Australian share market has opened lower for a third straight session, hurt by mining and financial stocks, with National Australia Bank reporting interim results broadly in-line with market ex

The Australian dollar is more than half a US cent lower against its US counterpart with the local currency a marked underperformer.

Oil prices have settled slightly higher after a choppy trading session as the market digested US government data showing that while there were signs a crude glut may be receding, inventories remained large with petrol demand weak.

Gold has fallen to a one-month low as the US dollar firmed, after the US Federal Reserve kept interest rates unchanged as expected and the market reduced expectations of a surprise win by France's far-right presidential candidate.

Falls by the major banks, miners and and telco company Vocus have triggered the share market's steepest fall in six weeks. 

Western Australia's building regulator is investigating claims of defective firewalls at the new Perth Children's Hospital, as the construction union warns that replacing them could take many months.

Journalists at The Sydney Morning Herald and The Age have voted to strike for a week, after Fairfax Media announced it would cut about 25 per cent of the jobs at its major Australian newspapers.

Shares in Vocus Communications fell almost 30 per cent following the telecom operator's second profit warning in six months, as management grapple with a raft of problems following its rapid expansion.

The Australian share market has been dragged lower at the open by the heavyweight financial and mining sectors, with telco stocks also down after Vocus Group downgraded its full-year guidance.

The Australian dollar is a touch higher against its US counterpart.

ANZ's weaker-than-expected $3.4 billion half-year cash profit has weighed on the big four banks and pulled the share market slightly lower.

The head of Western Australia's public sector union has defended what is being viewed as a muted response to the biggest slashing of the public service in decades and job losses that might be in the thousands.

The federal government has confirmed it will build Sydney's second airport after the operator of the city's main Kingsford Smith airport said it will not take up an option to develop the project.

The Reserve Bank of Australia has held the cash rate steady, signalling it is less concerned about the growth of household debt and low inflation.