AAP

Macquarie Group managing director Nicholas Moore says the investment bank is on track to broadly match last year's record $2.06 billion profit despite a 2 per cent slip in half-year profit.

More than $1 billion has been wiped off AMP's market capitalisation after the wealth manager announced a $668 million impairment due to ‘constant deterioration’ in the insurance market.

Woolworths' first quarter sales have returned to growth for the first time in nearly two years, and the results have surpassed market expectations.

The all-Australian consortium competing for the Kidman cattle empire has withdrawn its bid, after the target's board unanimously recommended Hancock Group-Shanghai CRED's revised $386.5 million offer yesterday.

The Australian share market is higher in early trade with gains in mining and energy stocks and a boost from Woolworths, which reported positive first-quarter sales growth.

Oil has settled higher, as commitments from Gulf OPEC members to cut production assuaged some lingering doubts in the market about cooperation from other producers.

The Australian dollar has slipped sharply after rising bond yields pushed up the US dollar overnight.

Gold is little changed, pressured by a persistently strong US dollar as the market awaits more signs about the timing of an expected US interest rate rise from the Federal Reserve.

The share market has taken a second straight sharp drop due to falls across the energy, resources, consumer staples and financial sectors.

The big four banks and AMP are likely to refund at least $178 million to more than 200,000 customers who did not receive financial advice for which they were charged.

Debt-laden steelmaker Arrium should be sold off to the highest bidder, its creditors have been told.

Fruit and vegetable growers have told the competition watchdog they are reluctant to report complaints against the major supermarkets and wholesalers because they fear retribution.

National Australia Bank has held its final dividend unchanged at 99 cents after lifting full-year cash earnings 4.2 per cent to $6.48 billion.

The Australian share market is trading slightly lower in early trade as investors stay wary after a 1.5 per cent slide in the previous session.

The Australian dollar is lower after short-sellers took profits as the currency neared 77 US cents.

Oil is down more than 1.5 per cent even after a surprise drawdown in US crude inventories, as traders remain cautious that OPEC would be able to cut production come late November.

Gold prices have fallen as investor appetite for riskier assets such as equities and crude oil have recovered slightly, denting demand for bullion, often considered a safe haven.

The latest inflation figures won't eliminate the chance of another interest rate cut, but they do offer hope that the Reserve Bank won't feel compelled to go down that risky path.

The share market has closed sharply lower as investors found little positive news to provide upward drive.

Wesfarmers-owned supermarket giant Coles' sales growth has eased for a third consecutive quarter amid stiff competition from Woolworths and Aldi.

A combination of investor caution ahead of key local economic data and downward cues from Wall Street has pushed the Australian share market into the red in early trade.

Gold has risen to an almost-three-week high as the US dollar retreated from multi-month highs and physical demand rose before India's late-October festival season.

Oil prices have fallen more than one per cent with US crude settling below $US50 per barrel for the first time in a week ahead of data likely to show a build in domestic inventories.

The Australian dollar has risen against its US counterpart ahead of the release of local inflation data.

US stocks slipped from two-week highs on Tuesday as results and forecasts from companies in sectors, including housing and consumer products, failed to live up to expectations.

The Australian share market has closed higher, led by the financial sector, as investors start to feel bullish ahead of earnings reports from three of the big four Australian banks.

The Australian share market has kicked off the trading session higher, with gains across the board following a strong session on Wall Street.

Gold prices have slipped as the US dollar has strengthened to a fresh near nine-month high on growing speculation that the US Federal Reserve would lift its key interest rate in December.

Oil prices have dipped, with US crude briefly falling below $US50 per barrel, on news of the impending restart of Britain's Buzzard oilfield and Iraq's wish to be exempted from OPEC production cuts.

The Australian dollar has slipped amid renewed hopes of a US rate rise before Christmas.

The Australian share market has closed lower, led by a sharp sell-off in healthcare stocks and a fall in energy stocks.

Energy giant Santos has agreed to sell its Victorian gas assets to Cooper Energy for up to $82 million.