AAP

US and European stock indexes have fallen sharply and buyers sought safe-haven government bonds after another tumble in depressed oil prices.

The Australian dollar has drifted lower following the Reserve Bank's widely anticipated decision to leave interest rates unchanged for the tenth straight month.

Gold has steadied after touching three-month highs, underpinned by global growth concerns and as another sharp drop in the oil price pushed investors toward safe-haven assets.

The Australian share market has closed below 5,000 points after the Reserve Bank held fire on interest rates but said there was scope for a rate cut.

The state government has again changed its mind on a key election promise, with Transport Minister Dean Nalder saying he is now in favour of an underground heavy rail system for Perth's north-western suburbs.

The Reserve Bank has again held fire on interest rates, issuing more upbeat domestic commentary despite an uncertain global outlook.

For the first time since the GFC, consumers have kicked off the new year on a pessimistic note.

Ratings agency Standard & Poor's could force BHP Billiton's hand on its controversial dividend policy after lowering the resources giant's credit rating by a notch and putting it on negative watch.

The Australian share market has opened flat, with a weak resources sector offsetting modest gains among the financials.

Strong gains in Facebook and Alphabet have helped Wall Street cut losses and stage a late-day rally, with major indexes closing near the unchanged mark.

The Australian dollar has fared well overnight despite global oil prices and equities struggling, as the Reserve Bank's policy meeting looms.

Gold has risen to a three-month high, extending its recent rally on worries about global economic growth and hopes for easier monetary policy after weak factory data in Asia and Europe.

The Australian share market has ended the trading session higher, buoyed by gains across the board.

Woodside Petroleum says its recently flagged write-downs of up to $US1.2 billion ($A1.7 billion) had taken into account possible delays at the Wheatstone LNG project near Onslow.

Uber's ride-sharing service is delivering benefits of more than $80 million to Australian consumers as users flock to the new and cheaper travel service.

The Australian share market has shot out off the blocks in early trade on Monday, boosted by gains on Wall Street and a continuing recovery in oil prices.

The Australian dollar has slipped after Japan took its interest rate into negative territory and warned it would cut further if necessary.

Gold has edged higher following data showing US economic growth braked sharply in the fourth quarter and the price of the precious metal was on track for its biggest monthly rise in a year after global economic headwinds hit riskier assets.

Premier Colin Barnett and Planning Minister John Day have officially opened Elizabeth Quay after decades of discussion and debate.

The Australian share market has raced home on a high note after enduring a fitful session of ups and downs.

The Reserve Bank is unlikely to budge from its neutral interest rate stance next week, but it may ramp its easing bias up a notch.

Perth-based miner Atlas Iron boosted shipments and trimmed costs in the December quarter, as iron ore prices weakened.

The Australian share market has got off to a firm start, led by gains in resources and energy stocks.

Crude oil prices have risen to their highest in three weeks on hopes for a pact among oil producers to cut output, while the US dollar slipped on bets that interest rate hikes by the Federal Reserve would be more gradual than it has suggested.

The Australian dollar has gathered steam as commodities rebound and the greenback weakens.

Gold has fallen one per cent, pressured by earlier strength in equity markets on the back of a rally in oil prices, with bullion investors quick to cash in gains from the Wednesday's rally to 12-week highs.

Wall Street has climbed as a blockbuster quarterly report from Facebook drove tech shares higher and a bounce in oil prices propped up the beleaguered energy sector.

M2 Group's $3.75 billion merger with rival Vocus Communications has been approved by shareholders, creating Australia's fourth biggest telco.

Retail giant Woolworths has been ordered to pay more than $11 million to a Victorian property developer for breaking a contract for the construction of a Masters hardware store.

The Australian share market has recovered from a negative start to gain ground, led by energy and mining stocks.

Vessels are being evacuated from the port at Port Hedland as a tropical low tracks towards the coast of Western Australia.

After five consecutive years at the top of Forbes Australia's rich list, mining magnate Gina Rinehart is no longer Australia's wealthiest person.