AAP

The Australian share market has opened higher.

US stocks have finished lower on global growth fears with shares of industrial heavyweight Caterpillar sinking after it announced thousands of job cuts.

Oil prices have edged higher recovering some of the losses from the previous day's session that were prompted by increased US oil output.

The Australian dollar is higher, after the US dollar weakened against most of the major currencies on the back some encouraging US economic data.

Spot gold has rallied more than two per cent for the biggest one-day gain in almost eight months as a weak US dollar sparked short covering while platinum recovered from a four-day rout even as automotive demand woes lingered.

The Australian share market has closed nearly 1.5 per cent higher as bargain-hunters moved in to buy stocks beaten down on Wednesday.

Santos shares have gained ground after the oil and gas producer said it had started production at its flagship GLNG liquefied natural gas project in Queensland.

The Australian share market has opened higher.

Platinum has fallen to a six-and-a-half-year low, on fears about reduced demand from the auto sector, where it is used in diesel catalysts to clean up exhaust emissions, while palladium, used in petrol vehicles, surged seven per cent.

Oil prices have fallen, reversing earlier gains, as a modest rise in US output overshadowed a hefty drop in crude inventories in the world's top consumer.

US stocks have finished lower with petroleum-linked equities especially weak following a report showing the feeblest Chinese factory activity in more than six years.

The Australian dollar has dipped below 70 US cents for the first time in two weeks on renewed worries about China's economy.

The share market has slumped 2 per cent to hit its lowest level in more than two years, as a fall in Chinese manufacturing activity stokes concerns about the global economy.

The timing couldn't be worse for Gina Rinehart's $10 billion Roy Hill project, which is on track to ship its first iron ore to China next month.

BHP Billiton boss Andrew Mackenzie's remuneration has fallen more than 40 per cent as the resources giant faces up to a global commodities slump.

The Australian share market has opened more than one per cent lower following a negative lead from overseas and the ripple effect from the Volkswagen emissions scandal.

Wall Street stocks have tumbled, joining European equities in falling on worries about global growth and the burgeoning Volkswagen emissions scandal.

US oil prices have fallen while Brent, the international benchmark, rose for a second day as traders continued to weigh the global oversupply and weak demand growth.

The Australian dollar is weaker after US and European share markets and commodity prices fell overnight.

Gold has fallen one per cent, pressured as the US dollar strengthened on renewed expectations that the Federal Reserve will raise US interest rates for the first time in nearly a decade.

The Australian share market has finished higher despite losing much of its early morning gains as investors nervously wait for key Chinese economic data.

A slowdown in broadband subscriber growth has failed to dent TPG Telecom's profits.

Former Indonesian president Susilo Bambang Yudhoyono wants to see closer agricultural ties between Australia and Indonesia.

Energy giant Woodside Petroleum needs to raise its bid for Papua New Guinea-focused Oil Search to have any chance of success, according to analysts at investment bank UBS.

BHP Billiton's spin-off South32 has raised the mineral resources estimate for its Cannington silver and lead mine in Queensland by 21 per cent.

The Australian share market has opened higher.

The Dow and S&P 500 have rallied to recover some of the prior session's losses, but gains were minimal on the tech-rich Nasdaq due to weakness among biotech shares.

The Australian dollar has fallen to a one-week low after a US Federal Reserve official confirmed that an interest rate rise is still on the cards.

Oil prices have rebounded in what analysts said looked like a technical correction from heavy losses last week as the basic global oversupply picture remained intact.

Gold has retreated from the previous session's near three-week high as strength in stocks and the US dollar dampen a rally fuelled by the Federal Reserve's decision last week to keep US interest rates on hold.

Prime Minister Turnbull has received praise from industry for his government’s newly announced cabinet, with a number of Western Australians earning promotions.

The Australian share market has fallen sharply, following a steep decline in US markets prompted by concerns about global growth.