AAP

The Australian share market has closed broadly steady as cautious investors await the next trigger to determine the direction of the market.

Oil giant BP's decision to abandon exploration plans in the Great Australian Bight could mean that the region will remain unexplored for some time.

BHP Billiton expects renewable energy to grow at the higher end of expectations but says non-renewable fuels will remain the lowest cost sources in major energy markets for the foreseeable future.

The Australian share market has opened higher, following Wall Street's positive close.

Oil prices have jumped as much as three per cent, with Brent hitting a one-year high, after Russia says it is ready to join OPEC in curbing crude output and Algeria calls for similar commitments from other non-OPEC producers.

Gold has recovered from its biggest weekly drop since November after downbeat US payrolls data dampened speculation of a near-term US interest rate rise and as Chinese buyers returned after the Golden Week holiday.

The Australian dollar is still gaining against the greenback after oil prices jumped overnight.

The Australian share market has closed fractionally higher as gains in financial and resource heavyweights, plus takeover target UGL, offset losses in energy stocks on the back of lower oil prices.

Almost half of Liberal voters in Treasurer Mike Nahan's safe seat of Riverton are opposed to the proposed privatisation of utility Western Power, according to ReachTel data.

The federal government has promised an "arms-length" decision on Gina Rinehart and Shanghai CRED’s joint $365 million bid for cattle empire S. Kidman & Co, which will still require foreign investment approval.

Spanish-controlled construction giant CIMIC Group has launched a $524 million takeover bid for its ASX-listed rival UGL.

The Australian share market has advanced in early trade, despite a weak close last week on Wall Street, as investors look to build on gains from the past three weeks.

The Australian dollar is trading higher ahead of the second US presidential debate and after disappointing US jobs figures.

Oil has fallen just over one per cent as players took profits on a rally over the past week that propelled prices nearly 15 per cent to four-month highs on hopes of OPEC crude output cuts.

Gold has fallen for the ninth straight session, briefly tapping a four-month low as computer-generated selling offset support from weak US payrolls data, but bullion was on track for its biggest weekly drop in more than three years.

The share market has ended the week with a fall as markets wait for the latest US jobs data that is likely to influence the timing of an expected US rate hike.

Two different proposals from the Western Australian government to change the way Rio Tinto and BHP Billiton pay an iron ore charge is already damaging the state's reputation as an investment destination, a business lobby group says.

WA Labor leader Mark McGowan has ruled out extending a ban on fracking beyond three regions if he wins the March state election.

Two interest rate cuts are yet to trigger a boom in retail spending, MasterCard says.

Milk processors have agreed to develop a code of conduct with dairy farmers aimed at preventing controversial farmgate price cuts.

Engineering construction helped overall building activity return to expansion in September.

The Australian share market has edged slightly lower in early trade, despite a nearly flat session on Wall Street and continued strength in oil prices.

The Australian dollar has slipped against its US counterpart as investors back the greenback going into Friday's key US jobs report.

Gold fell for the eighth straight session on Thursday, slipping to a four-month low, pressured by a stronger dollar after U.S. weekly jobless claims fell and ahead of key data that could put the Federal Reserve on track to raise interest rates this year.

Oil rose more than 1 per cent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15-per cent gain in seven sessions.

Changes to freeway merging lanes have provided a welcome boost to Perth drivers, with the recent changes improving traffic flow and cutting journey times.

Strong gains by energy and mining stocks and the major supermarkets have driven the share market higher.

Perth-based Hillcrest Litigation Services is transforming into a baby food company after signing an agreement to acquire the manufacturer of Bubs Organic products.

One Nation Senator Rod Culleton has attacked the judiciary in a press release after his latest court loss, demanding the civil matter be heard by a jury.

The Australian share market is higher in early trade, helped by positive cues from Wall Street and strong gains in energy prices.

The Australian dollar has fallen against the greenback with stronger-than-expected economic data lifting the US currency.

Gold is little changed with the US dollar paring gains, after bullion inched down to the lowest in more than three months following the previous day's sharp sell-off and a technical break well below the key $US1,300-an-ounce level.