AAP

Palladium and platinum have risen sharply as bets on lower prices were reversed in thin conditions after the metal broke above key chart levels.

The Australian dollar is higher against the US dollar, passing 77 US cents due to continued weakness in the greenback.

Oil prices have fallen more than two 2 per cent amid oversupply concerns.

The Australian share market has closed lower, hurt by falls in financial and resource giants, including the Commonwealth Bank, Westpac and Rio Tinto.

Outgoing Reserve Bank governor Glenn Stevens has warned that any major boost to the economy might have to come from government spending rather than interest rates.

AGL Energy expects earnings to grow in the current financial year despite unseasonably warm weather at the start of the reporting period and fierce competition for customers.

Commonwealth Bank of Australia chief executive Ian Narev has cited weak wages growth and political uncertainty as threats to Australia's economy, even as the country's biggest bank unveiled a seventh straight record profit of $9.45 billion.

Fairfax Media's new financial year has got off to a bumpy start, with its prized real estate advertising business, Domain, reporting a sharp slowdown in digital revenue growth.

The Australian share market has opened lower.

The Australian dollar has rallied, with analysts tipping it to hit 77 US cents, as global risk appetite increases and after the greenback fell on weak US business productivity data.

Gold prices have edged higher as the US dollar slipped lower against a basket of currencies and concerns over the global economic outlook trumped some expectations that US Federal Reserve could raise interest rates this year.

Oil prices are lower after preliminary data showed a surprise US crude stockpile build last week, heightening worries about a global petroleum glut.

Rio Tinto and BHP Billiton have labelled the reinstalled WA Nationals leader's plan to slug them with higher taxes "ill-conceived" and "damaging".

The Australian share market has closed slightly higher, with the big banks holding up the bourse in light trading following a weak lead from US markets

The WA Liberals can govern without the support of the Nationals, who are still deciding who will lead their party, Premier Colin Barnett says.

News Corporation's full-year earnings have dropped about 28 per cent as growth in its real estate classifieds businesses fails to offset declines in news and book publishing.

ANZ Banking Group's cash profit has slipped 3 per cent in the first nine months of its financial year, weighed down by restructuring charges and bad debts.

The Australian share market is trading mildly higher as investors await clear direction after a tepid session on Wall Street.

The Australian dollar is being resilient, lifting against the greenback despite softer Chinese trade numbers on Monday.

Gold has steadied after falling to a one-week low as downward momentum from stronger-than-expected US jobs figures lost steam, with concerns over negative global economic sentiment lending support.

Oil prices are more than two per cent higher amid renewed speculation that OPEC will try to restrain output, easing oversupply worries that's pressured the market to three-month lows.

State National Party MPs met at Parliament House today as former leader Brendon Grylls tried to retake the leadership from Terry Redman, claiming the Liberal/National alliance was not in a winnable position for the upcoming state election due in March.

Investor interest in energy and financial stocks drove the Australian sharemarket higher on Monday, ahead of a flurry of company results this week as earnings season gets under way in earnest.

One Nation senator Rodney Culleton is one step closer to holding on to his new job after successfully applying to the Armidale Local Court, in regional NSW, to have a larceny conviction annulled.

The Australian share market has opened higher.

The Australian dollar is weaker after a surprisingly strong US jobs report lifted the greenback.

Gold has fallen as much as 1.7 per cent, as the greenback rose after data showed that US employment increased more than expected in July, raising the probability of an interest rate hike from the Federal Reserve this year.

Crude oil prices have ended little changed as short-covering returned in late trading, after some weakness earlier in the session as the US dollar rose on robust US jobs data.

Qantas is holding off taking delivery of eight A380 superjumbos ordered more than a decade ago because they don't fit with its current plans for growth in Asia.

The share market has closed higher after a rally in prices for oil and iron ore boosted energy and mining stocks.

Virgin Australia has posted a full year net loss of $224.7 million, after taking charges related to fleet simplification and other efficiency activities.

The ASX200 index has opened 26.1 points higher at 5,501.9 this morning.