AAP

Gold prices have dropped, hovering just above the lowest level in nearly six years after the US dollar rose on the back of strong American economic data.

Australia's big four banks have pulled the Australian share market more than half a percentage point lower, losing ground for a second straight session.

A consortium of Australian and international investment funds has bought the NSW-based TransGrid "poles and wire" network in a deal worth more than $10 billion.

Commonwealth Bank of Australia will hand back a massive $80 million to customers after discovering it failed to apply fee waivers and other benefits to which they were entitled.

Evolution Mining says it's close to completing its protracted acquisition of smaller rival Phoenix Gold.

The Australian share market has opened flat, with the resources sector offsetting losses in the banks.

A jump in petroleum-linked shares has helped lift US stocks after the Turkish downing of a Russian fighter jet on the Syrian border sparked a rally in the oil market.

The Australian dollar is higher as rising tension between Russia and Turkey and disappointing US economic data drive the greenback lower.

Gold has risen one per cent, recovering from near six-year lows as news that Turkish fighter jets had shot down a Russian warplane near the Syrian border sparked a rush to safety among investors, weighing on the US dollar.

Global oil prices have surged higher after Turkey shot down a Russian warplane on the Syrian border, sparking concerns about rising tensions in the oil-rich Middle East.

Treasury has cut Australia's potential economic growth forecast, while predicting a return to a budget surplus will take longer than previously forecast.

The Australian share market has closed nearly 1 per cent lower, dragged back by the major banks and continued weakness in the resources sector due to lower commodity prices.

BC Iron says it's doing okay in the face of falling iron ore prices and might even diversify into gold or other metals in the future.

Logistics company Qube Holdings is bracing for difficult trading conditions as it battles for control of takeover target Asciano.

The Australian share market has opened more than half a per cent lower, dragged into the red by continuing weakness in the resources and financial sectors.

The Australian dollar has regained some ground as the greenback weakened slightly on stronger oil prices and disappointing US economic data.

Pharmaceutical heavyweights Pfizer and Allergan have unveiled a record-setting $US160 billion ($A222.62 billion) mega-merger as US stocks finished modestly lower.

Oil prices were little changed as traders tried to decipher remarks by Saudi Arabia suggesting a production cutback in response to abundant global supplies.

Gold has fallen one per cent, nearing last week's 2010 low on a robust US dollar and upbeat comments from Federal Reserve officials on a possible US rate rise in December.

The Australian share market has closed higher as investors continued to gain confidence despite more weakness in the resources sector.

Woolworths shares have jumped amid speculation two global private equity giants may be considering a joint bid for the retail giant's Big W chain.

The Australian share market has opened lower.

The Australian dollar is higher, getting support from expectations that the Reserve Bank won't be cutting the cash rate.

Oil prices are slightly higher, despite a market burdened by a persistent oversupply of crude.

Gold have turned lower, ending a two-day bounce up from the lowest level in nearly six years, on the firm US dollar and comments from a Federal Reserve policy maker who said the US central bank should "soon" be ready to raise interest rates.

After strong gains throughout the week, investors have calmed, with the bourse closing only slightly higher on Friday.

The Australian share market has opened flat.

Tech companies Square and Match have surged in their first day of trade, but US stocks ended slightly lower following a profit warning from Dow member UnitedHealth Group.

The Australian dollar has extended its gains against the greenback, which softened after the US central bank stressed rate rises would come gradually.

US oil prices have dipped to finish near $US40 a barrel as worries about oversupply continued to weigh on the commodity.

Gold has risen one per cent, rebounding from near six-year lows as indications from the US Federal Reserve that it may move cautiously into the rate hiking cycle weighed on the US dollar and prompted investors to cover short positions.

The Australian share market has closed 2 per cent higher as the banks and minerals sectors boosted the bourse.