AAP

Oil has fallen by about 2 per cent, the most since mid January, as a stronger dollar and signs of rising US crude output pressured prices while an OPEC report showing high compliance with last year's production-cut deal underwhelmed investors.

Seven West Media has secured an interim injunction against chief executive Tim Worner's former lover as it seeks to stop her releasing what it says are confidential documents she should not possess.

Some encouraging company earnings reports, a positive lead from US markets and higher commodity prices have helped lift the Australian share market by about 0.7 per cent to its best close in a month.

Strong sales of computers, cameras and home appliances have helped drive JB Hi-Fi's half-year profit up by nearly 16 per cent to $110.4 million.

Newcrest Mining will pay its first interim dividend in four years after more than doubling first-half profit on the back of higher prices and increased gold and copper production.

The Australia share market has gained ground, thanks to investor demand for growth stocks, including Rio Tinto, BHP Billiton and Woodside Petroelum, after Wall Street hit record highs.

The Australian dollar is higher against its US counterpart as the price of iron ore lifts.

Gold has steadied, but remains below this week's three-month top as the US dollar and Treasury yields came off their highs after the currency initially jumped on US President Donald Trump's promise of a major tax announcement.

Oil prices have risen after reports that OPEC members deliver more than 90 per cent of the output cuts they pledged in a landmark deal that took effect in January.

Australian shares closed stronger, buoyed by record highs on Wall Street and investor hopes the local earnings season won't be as bad as initially feared.

The Reserve Bank is forecasting a slow but orderly return to above-trend growth and for inflation to return to target within three years, but economists and the International Monetary Fund warn that risks remain.

The share market has gained ground thanks to strength among the big four banks, following Wall Street's rise to record levels.

The Australian dollar is only fractionally higher against its US counterpart following a basically upbeat message from the local reserve bank chief.

Oil prices have held onto gains after an unexpected draw in US petrol inventories pointed to higher demand in the world's biggest oil market, although bloated crude supplies meant that fuel markets remain under pressure.

Gold has slipped from a three-month high in the previous session after robust US economic data pointed to a stronger economy, increasing the likelihood that the Federal Reserve will raise US interest rates.

Wall Street stocks surged to record highs on Thursday and the US dollar and bond yields rose after US President Donald Trump said he would release a "phenomenal" tax plan in the next few weeks.

The share market has edged higher as investors digested mixed earnings reports from the likes of miner Rio Tinto, investment manager AMP and AGL Energy.

Sydney-based AGL Energy has said it would lose around $15 million in a bid to enter the Western Australian domestic gas market in the 2018 financial year, after it lodged a retailing application with the state's Economic Regulatory Authority.

Western Australia's financial outlook has worsened considerably in less than two months, with no return to surplus in sight and ballooning debt, pre-election projections show.

Profit continues to fall for Optus despite the telco attracting many new customers, largely due to its exclusive coverage of English Premier League matches.

The company building the national broadband network, NBN Co, says the number of homes and businesses connected to the network is now 1.6 million - double the same time a year ago.

A slip in the major miners is weighing on the Australian stock market as investors digest Rio Tinto's overnight profit result and investors bid up energy and industrial stocks.

The Australian dollar is little changed against the US dollar which has been pressured by the decline in US bond yields as investors price out a March rate rise by the Federal Reserve.

Gold has risen to a three-month peak, as political risks posed by elections in Europe and worries over US President Donald Trump's policies stoked safe haven demand.

Oil prices have gained slightly as investors covered short positions after a rise in US crude inventories was not as massive as many had feared, while petrol futures jumped nearly 4 per cent after a surprise decline in inventories of the fuel.

The share market has gained ground due to strength among the big four banks, well-received earnings reports from Carsales.com and construction firm CIMIC, and a higher price for iron ore.

Rio Tinto has bounced back to profitability, reporting full-year profit of $US4.6 billion ($A6.1 billion) for 2016 on the back of a jump in iron ore prices.

The state government has urged the WA Football Commission to show common sense after it rejected $100 million in compensation over 10 years to surrender its lease on Subiaco Oval.

WA Labor says it will assess each One Nation candidate before deciding where to put them on how-to-vote cards, suggesting they won't necessarily be ranked last.

State Treasurer Mike Nahan has put his neck on the line to stop the Nationals WA's proposed mining tax, saying he will resign from the portfolio if a post-election Liberal government does a deal to lift royalties.

Construction and contract mining company CIMIC Group has flagged a boost in annual profit of up to 21 per cent in 2017 after delivering a solid rise in profits for the year just ended.

The Australian share markets has opened higher, with banks leading the way and helping to partially offset recent losses .