AAP

Oil has soared more than 10 per cent to over $US50 a barrel and its highest in a month as some of the world's largest producers agree to curb production for the first time since 2008 in a bid to support prices.

Gold has fallen to nearly a 10-month low, adding to its deepest monthly price declines in more than three years as strong US economic data and higher US Treasury yields buoy the US dollar, further cementing the case for a December rate increase.

US stocks ended with big gains for November on Wednesday thanks to a sharp post-election rally, but the S&P 500 finished the day flat as drops in utilities and technology offset energy's surge.

Western Australian women have gone backwards in terms of the gender pay gap, with full-time workers earning on average 30.9 per cent - or $43,000 a year - less than men.

Steep falls across the mining and energy sectors have driven the Australian share market lower.

Medibank boss Craig Drummond has committed to halting the decline in the private health insurer's market share by overhauling its approach to customers.

The Australian share market has kicked off the trading session lower, due to renewed pressure on resource and energy companies, including Rio Tinto, BHP Billiton and Woodside Petroleum.

Oil has slumped four per cent as OPEC's leading oil exporters struggle to agree on a deal to cut production to reduce global oversupply and boost prices, with Iran and Iraq at loggerheads with Saudi Arabia a day ahead of meeting.

Gold prices have fallen due to expectations of rising US interest rates and improving sentiment for global economic growth, which mean investors are likely to favour risk assets such as equities.

The Australian dollar is marginally higher against its US counterpart after gains in the greenback fizzled out following strong third quarter US economic growth data.

Falls in resource, energy and telecom companies, including Rio Tinto, BHP Billiton and Vocus Communications have dragged the Australian share market lower.

Commonwealth Bank of Australia, Westpac and National Australia Bank have seemingly failed to secure permission to collectively bargain with Apple for iPhone users to make mobile payments from their own digital wallets, rather than Apple Pay.

Vocus Communications shares have plunged more than 20 per cent after Australia's fourth biggest telecommunications group delivered a grim trading update following its rapid expansion.

Mineral sands miner Iluka Resources has cast doubt on its planned $375 million takeover of Sierra Rutile after detecting geotechnical risks at the West African company's tailings dams.

The Australian share market is trading barely changed in early trade as overnight declines on Wall Street and caution ahead of key risk events weigh on investors' minds.

The Australian dollar is flat against its US counterpart, as the greenback has eased amid a quiet north America session.

Gold prices are more than one per cent higher recovering from their lowest levels since February as the US dollar and long-dated US Treasury bond yields retreat from recent highs.

Oil prices have gained more than two per cent, recouping earlier losses, in volatile trading as the market reacts to the shaky prospect of major producers being able to agree output cuts at their upcoming meeting.

US stocks declined on Monday for their worst performance in nearly a month, weighed down by a pullback in the financial and consumer discretionary sectors as some investors booked profits on the heels of a record-setting week.

The Australian share market has closed lower, led by heavy falls from oil and gas producers and the major miners.

Food and grocery wholesaler Metcash's earnings have taken a hit from intense price competition and Aldi's expansion into South Australia and Western Australia.

Attorney General George Brandis says every decision he made in relation to the Bell Group liquidation protected the interests of taxpayers, as the Insurance Commission of Western Australia estimates the litigation over the matter could take another 15 years to resolve.

The Australian share market has kicked off the week lower, hurt by energy and resource companies.

Gold prices have steadied after falling to nine-and-a-half-month lows, heading for a third consecutive weekly decline as investors sold on factors including expectations of a US interest rate rise.

US crude have fallen nearly four per cent, dragged down by uncertainty over whether the Organization of the Petroleum Exporting Countries will reach an output deal, after Saudi Arabia said it will not attend talks on Monday with non-OPEC producers to discuss supply cuts.

The Australian dollar has edged higher against its US counterpart after investors sold the greenback on Friday as US bond yields stabilised.

The share market has hit a three month high thanks to demand for mining and energy stocks including BHP Billiton, Rio Tinto and Woodside Petroleum.

Australia could become the epicentre of global mining if it had more ambition and more competitive tax policies, says the chief executive of mining giant Rio Tinto.

A company angling for a share of the 1.6 billion strong global video gamers market - and maybe doing it with government backing - has leapt on debut on the ASX.

Global mining giants BHP Billiton and Brazil's Vale have offered new loans to their Brazilian joint venture, Samarco, as it assesses whether it can reopen the iron ore project where a dam disaster killed up to 19 people last year.

The share market is flat in early trade with strong gains from gaming giants Tabcorp and Tatts Group, and utilities offsetting weakness from the banks and miners.

Commodity prices have boosted the Australian dollar against the greenback which has stalled as the US celebrates the Thanksgiving holiday.