AAP

Gold prices have pared losses on weaker-than-expected US economic data, after falling 1 per cent on renewed expectations of an increase in US interest rates next month that pushed the dollar higher.

The share market has edged lower as a flurry of earnings reports resulted in a mixed performance from many sectors.

BHP Billiton has posted a first-half profit of $US3.2 billion ($A4.2 billion) as a rebound in prices for iron ore and petroleum helped the resources giant swing back to profitability.

Premier Colin Barnett has called on the federal government to pick a figure for the proposed GST floor, saying he would agree to 70 cents in the dollar as the prime minister has indicated.

Kerry Stokes' Seven Group Holdings has slipped to a half-year loss of $41.8 million due to $145 million of write-downs almost entirely related to the value of its stake in Seven West Media.

Engineering firm Monadelphous Group is looking to diversify into new markets such as infrastructure and renewables as revenue from mining and energy customers continues to decline.

The Australian share market has drifted lower in early trade as investors wait on the release of the Reserve Bank's February board meeting minutes.

The Australian dollar is up slightly against its US counterpart which has followed bond yields lower amid continued political uncertainty.

Oil prices has inched higher, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained rally, although growing US output and stubbornly high stockpiles kept price gains in check.

Australian shares finished lower on Monday, hurt by disappointing earnings results from logistics giant Brambles and engineering group Worley Parsons.

Beach Energy has swung to a first-half net profit on the back of record sales volumes and higher oil prices.

Engineering and project management firm WorleyParsons says the slump in activity among its customers, which caused revenue to plunge by 35 per cent and pushed the company to a first-half loss, may have bottomed out.

Prime Minister Malcolm Turnbull's promise to put a floor on what the states receive as a share of the revenue they raise from GST still stands, although it is still a few years away before it can be implemented.

The Australian share market has opened slightly lower as Wesfarmers goes ex-dividend and logistics firm Brambles unveils a weaker-than-expected half-year profit.

Oil prices have ended steady on the day but lower on the week, with US crude notching its first weekly decline in five weeks, as the market weighed rising US drilling and record stockpiles against efforts by major producers to cut output to reduce a global glut.

The Australian dollar is lower against its US counterpart, slipping back below the 77 US cent mark.

Gold prices have eased but have notched a weekly gain as investors opted for the safe-haven qualities of bullion due to uncertainty about US and European politics as well as the direction of stock markets.

Australian shares fell as losses across healthcare, resource and energy companies offset gains in some banking and real estate stocks amid another batch of company earnings results.

ANZ Banking Group chief executive Shayne Elliott is optimistic about prospects for the rest of the financial year after the lender lifted its first-quarter cash profit 31 per cent to $2 billion.

Oil and gas producer Santos has halved its full-year loss and cut net debt as it continues to restructure and cut costs.

Virgin Australia's financial performance has been whacked by leisure and corporate travellers tightening their belts.

Medibank Private has lifted half-year profit 1.9 per cent to $231.9 million as higher investment income offset lower returns from its core health insurance business.

The Australian share market has opened flat, as strength in the industrials and IT sectors bolsters local shares against falls on Wall Street overnight.

The Australian dollar is lower, dropping back below the 77 US cent mark, despite the US dollar weakening against a basket of currencies.

Gold has risen as the US dollar has weakened following a 10-day winning streak and investors take the opportunity to buy bullion as a hedge against political uncertainty in the United States and Europe.

A big drop in Telstra shares following a disappointing half-year profit result has weighed upon a relatively flat Australian share market in another busy day of company earnings reports.

Telstra's mobile and fixed broadband operations have been hit by fierce price competition and lower regulated call charges , leading to a worse-than-expected first-half financial performance and a

Western Australia's unemployment rate fell 0.1 percentage points in January to be 6.5 per cent in seasonally adjusted terms, although the state now has the worst unemployment rate in the nation.

Diversified miner South32 has posted a sharp jump in half-year underlying earnings, thanks to ongoing cost reductions and stronger coal and manganese prices.

Wall Street pushed further into record-high territory, with the S&P 500 notching a seven-session winning streak, helped by a round of robust economic data and ongoing optimism that President Donald Trump will cut corporate taxes.

US crude prices have slipped in choppy trade, even as record high US crude and petrol inventories fed concerns about a glut.

The Australian dollar is higher against its US counterpart and the yen and euro, performing strongly following positive earnings reports.