AAP

The price of gold has jumped two per cent to a seven-and-a-half-month high, briefly nudging above the psychological level of $US1,200 an ounce, as sliding stock markets and worries over global economic growth prompt investors to seek safety.

The company operating Australia's Nauru and Manus Island detention centres has had its contract extended but is no longer the sole preferred bidder for the next five-year deal.

The Australian share market closed broadly flat as falls across the banking sector were offset by gains in resource companies.

Ratings agency Moody's has downgraded Western Australia's credit rating to Aa2, reflecting an ongoing deterioration in the state's finances and concern that the government will be unable to meet its own spending targets.

JB Hi-Fi expects continual expansion of its home appliance business to cushion it from a competitive electronics market.

The long-running takeover battle for Australian rail and ports operator Asciano is set to intensify after the consortium led by QUBE Holdings improved on its offer price.

The Australian market is lower, dragged down by the financial and resource sectors after a disappointing performance in the US.

The Australian dollar has continued to slide as the greenback "roars back to life" amid hopes of a US labour market recovery.

Gold has risen to a three-month high in volatile trade, as a mixed US jobs report prompted investors to reassess the outlook for US interest rates in 2016, putting bullion on track for its strongest weekly performance in more than a year.

The Australian share market finished the trading day slightly lower, as falls in financial and retail stocks were partly offset by gains by the big miners.

Perth house prices are likely to fall by 3-5 per cent this year as the mining-dependent economy teeters on the verge of recession.

Mining giant BHP Billiton can defend its credit rating by scrapping its controversial progressive dividend policy, ratings agency Standard and Poor's says.

The rollout of Australia's new superfast broadband network NBN is gaining traction as the company in charge of building and operating the service delivers strong results.

The long-running takeover battle for Australian ports and rail operator Asciano will continue after the competition watchdog delayed its decision on the rival bids.

The Australian market has opened lower as investors play it cautiously ahead of the release of key US jobs data.

A jump in materials shares have helped US stocks eke out a second straight day of gains, though disappointing forecasts from retailers and anxiety ahead of Friday's jobs report limited the advance.

The Australian dollar has breached 72 US cents after the greenback suffered a fourth straight day of losses.

Gold has risen for a second day, hitting three-month highs as the US dollar continued to ease amid mounting doubts that the US Federal Reserve will raise interest rates in 2016 due to global economic and financial headwinds.

The Australian share market has closed around 2 per cent higher in the wake of a strong rise in oil prices and the hope that weak US economic data will slow the pace of interest rate hikes in the US.

Macquarie Group remains on track for a record full-year profit of more than $2 billion, though it says volatile market conditions make forecasting difficult.

AGL Energy is quitting its gas exploration and production activities due to the collapse in oil and gas prices.

Engineering and contracting group Downer EDI has trimmed its full-year profit guidance after posting a nearly 24 per cent drop in first-half profit, with one of the few positives being increased work on oil and gas projects in Western Australia.

The receiver restructuring Dick Smith with a view to selling the troubled electrical retailer says the company has been underpaying workers for as long as six years.

BHP Billiton spin-off South32 will slash 620 jobs in Africa and has warned of widespread job losses in Australia after revising down its commodity price forecasts.

The Australian share market has kicked off the trading day higher after a late rally on Wall Street led by an eight per cent jump in oil prices.

US stocks have staged a late-day rally as an 8-per cent jump in oil prices lifted beaten-down energy shares and financials rebounded.

The Australian dollar has rallied on the back of a broad greenback selloff triggered by weaker-than-expected US economic data.

Gold has hit three-month highs as a slower US services sector and sinking US dollar prompts investors to seek shelter in assets perceived as safer as future Fed rate hikes appeared less likely.

Heightened investor fears about global growth have caused the sharpest daily fall on the Australian share market in four months, with energy companies and banks the hardest hit.

Commonwealth Bank of Australia is expected to unveil another record first-half profit next week when it becomes the first of the big four to report results since last year's out-of-cycle mortgage rate hikes.

The Takeovers Panel has refused to intervene in construction giant CIMIC Group's $243 million takeover bid for mining services company Sedgman.

The Australian share market has opened sharply lower on further steep declines in oil prices.