AAP

Australian shares have closed lower, weighed down by major logistics firm Brambles' profit warning and uncertainty around the direction of new US President Donald Trump's administration.

Former One Nation senator Rod Culleton insists he won't be clearing out his offices and is determined to attend the start of federal parliament.

The massive plunge by major logistics company Brambles has largely offset a modest boost to the Australian share market from investor optimism about Donald Trump's presidency.

The Australian dollar is up against the greenback on the first full day on the financial markets following Donald Trump's inauguration as the 45th US president.

Oil prices have risen more than two per cent on expectations that this weekend's meeting of the world's top oil producers will demonstrate compliance to a global output cut deal, but rising US drilling activity have limited gains.

Gold prices have turned higher, as the dollar fell and US Treasury yields came off their highs after Donald Trump was sworn in as US president.

The Australian share market has closed lower as investors remain cautious ahead of Donald Trump's swearing-in as US president.

Oil and gas producer Santos has topped its guidance for 2016 with a 7 per cent rise in production and a 31 per cent jump in sales, boosted by the ramp-up of its Gladstone liquefied natural gas plant in Queensland.

Losses across the heavyweight resource and financial sectors have pushed the Australian share market lower as investors keenly await a flurry of Chinese economic data.

Oil prices edged higher on Thursday, but swelling US crude stockpiles limited the rebound from a one-week low after the International Energy Agency said oil markets had been tightening even before cuts agreed by OPEC and other producers took effect.

Gold steadied on Thursday, giving up earlier losses as the US dollar and US bond yields pared gains, following earlier pressure from strong US economic data and support from Federal Reserve Chair Janet Yellen for higher US interest rates.

The Australian dollar is up against the US dollar ahead of US President-elect Donald Trump's closely-watched inauguration and speech.

Australian wicketkeeper Matthew Wade missed the easiest of stumpings as Pakistan posted 7-263 in today's one-day clash at the WACA Ground.

BHP Billiton has reached a near $1 billion deal with Brazil's federal prosecutor to settle a civil claim over the fatal disaster at its Samarco joint venture.

The Australian share market gave away most of its early gains but still finished slightly higher as weakness from most of the big banks countered support from an upbeat outlook on the US economy and a profit upgrade from market heavyweight CSL.

Vegemite will be back in Australian hands after Bega Cheese agreed to buy brands including the iconic spread for $460 million.

Western Australian police say they have arrested 30 people this morning for disrupting land clearing works as bulldozers moved in on the controversial Roe 8 highway extension project.

Diversified miner South32 has posted lower first-half production in several of its commodities but says it remains on track to achieve full-year guidance for the majority of its operations.

The Australian share market has jumped with investors optimistic after US Federal Reserve chair Janet Yellen's said the US economy was strengthening and interest rates were likely to rise.

The Australian dollar is lower as pressure on the US dollar eased ahead of US Federal Reserve chair Janet Yellen's speech.

Gold retreated on Wednesday from the previous day's eight-week high as data showing the biggest pick-up in U.S. consumer prices in 2-1/2 years lifted the dollar and US Treasury yields.

Oil prices fell on Wednesday to their lowest in a week, on a strong dollar and expectations that US producers would boost output even as OPEC's output fell from a record high.

Falls by the big four banks have pulled the share market lower, as uncertainty about the policies of US President-elect Donald Trump influences trade.

A Perth recycling company has been handed an $80,000 fine for its part in a workplace accident in which a teenager's fingers were amputated by a tyre shredder.

Wesfarmers' coal mining business is doing better than originally expected, thanks to higher coal prices and improved output.

Consumers are optimistic about their future finances, but they're still worried about the contraction of the economy reported last month, Westpac says.

Turnbull government ministers Greg Hunt and Arthur Sinodinos have been given senior portfolios in a reshuffle announced today, while Perth MP Ken Wyatt has made hstory by being named the first indigenous Australian appointed to a federal ministry.

Falls across the heavyweight financial sector have pushed the Australian share market into negative territory following losses in the US and Europe.

The Australian dollar is higher against the US greenback, which fell after comments from US President-elect Donald Trump.

Gold jumped more than 1 per cent to an eight-week high on Tuesday as stocks and the dollar fell after U.S. President-elect Donald Trump said the greenback was "too strong" and British Prime Minister Theresa May promised a parliamentary vote on Brexit.

Oil prices were little changed on Tuesday amid a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.

The share market has fallen due to investor caution ahead of UK Prime Minister Theresa May's Brexit speech and US President-elect Donald Trump's inauguration.