AAP

The Barnett government has seized on comments by Australia's competition chief Rod Sims that plans to privatise Western Australia's poles and wires utility, Western Power, would lead to lower prices, while Labor leader Mark McGowan has claimed a re-elected Liberal government would also sell Water Corporation. 

The Australian share market has closed higher as US President Donald Trump's move to repeal Obamacare appeared to help clear the way for him to start tackling tax reform, which markets have been waiting for.

The Takeovers Panel has declined to look into construction giant CIMIC Group's claim that takeover target Macmahon Holdings' target statement was misleading and deceptive.

The Reserve Bank of Australia remains upbeat about the nation's economy, signalling it doesn't intend to move interest rates this year.

Falling commodity prices and caution ahead of the Reserve Bank's interest rate statement are weighing on Australian shares.

Oil prices have whipsawed, turning negative after the International Energy Agency forecast potential shale oil growth and waning European refined product demand, before Brent did an about turn into positive territory.

The Australian dollar is hardly changed against its US counterpart which has risen on improved chances of an anti-EU candidate winning the French presidential election.

Gold has fallen for the third straight session, but has hovered above Friday's two-week low, pressured by comments from Federal Reserve chair Janet Yellen that reinforced expectations of an increase to US interest rates this month.

US stocks pulled back on Monday in a broad decline as investors grew uneasy over the latest tumult surrounding the Trump administration and geopolitical tensions emanating from North Korea.

The Australian share market has closed lower with the major miners, energy players and banks leading losses after Wall Street fell and the Australian dollar lost ground.

Demanding WA Labor submit election promises to Treasury for scrutiny has proved a potent line of attack for the Liberals this week, as the government tried to change the topic from its preference deal with Pauline Hanson's One Nation.

Western Australia's deputy premier says the government is finding it hard to cut through to the public because it is being heavily outspent by the opposition and unions on political advertising.

WA Labor has demanded the Liberals guarantee a privatisation of Western Power won't lead to electricity price rises and release legislation on the deal, while the Liberals say prices will not be impacted because they are independently regulated.

US interest rate policy, the ongoing fallout from Brexit, rising international protectionism and the performance of China are all risks facing the Australian economy.

Australia's service sector activity was nearly flat last month implying jobs growth will remain weak for the near term.

Mining giant Rio Tinto will hold back all outstanding performance-related pay of previous chief executive Sam Walsh for at least two years, until investigations into a payments scandal in West Africa are more advanced.

The latest poll ahead of the Western Australian election shows Labor could receive a hefty nine per cent swing, but that might not be enough to form government.

The Australian share market continues to come under pressure, dragged down by resource, energy and financial stocks following losses on Wall Street.

The Australian market looks set to open lower following Wall Street, which retraced from record highs amid renewed expectations of a US interest rate rise.

US stocks retreated on Thursday, led by financial stocks, while Caterpillar shares dropped following news that federal officials searched its Illinois facilities.

Gold prices were on track for their weakest session since December on Thursday (US time), buoyed by a firm dollar and rising US rate hike expectations in March following buoyant US economic data and hawkish comments from Federal Reserve governors.

The share market has had its best session in more than three months following rallies on markets in the US and Europe as investors feel more positive about the global economic environment.

A Labor government would aim to cut red tape so more micro-festivals could be held across Western Australia, according to party leader Mark McGowan, but the Liberals say changes to deregulate the liquor industry are already under way.

The entire City of Perth council may be sacked over the lord mayor's travel scandal if Labor wins the state election and the Local Government Act allows it, opposition leader Mark McGowan says.

The Australian share market has got off to a strong start after five sessions of decline, with investors taking cues from the rallying US and European markets overnight.

The Dow has blasted through the 21,000 mark for the first time after US President Donald Trump's measured tone in his first speech to Congress lifted optimism and investors viewed a looming interest rate hike as a glass half full.

The Australian dollar is higher against its US counterpart after news that Australia's economy expanded 1.1 per cent in in the last quarter of 2016, among the strongest quarterly performances in the past five years

Oil prices have pared gains and turned negative after data showing that crude inventories in the United States had risen to a record high.

Gold has given back most of its losses as the US dollar has pared gains and bullion shrugs off earlier pressure from US Federal Reserve officials' comments that raised expectations of an interest rate rise in March.

A bigger-than-expected rebound in economic growth has not stopped profit-takers from pulling the share market lower for a fifth straight session.

Premier Colin Barnett has demanded Labor submit its election promises to Treasury for costing, saying that should be the modern standard for oppositions.

CIMIC Group's takeover bid for mining services provider Macmahon Holdings has become more complicated after Macmahon signed a heads of agreement that could give Indonesian miner Amman Mineral Nusa Tenggara a 44 per cent stake in the company.