Oil prices have tumbled about 2 per cent on rising US-China tensions and doubts about how quickly fuel demand would recover from the coronavirus crisis.
Gold prices will start the week higher after intensifying US-China tensions compounded fears of a slow recovery in a global economy already reeling from the coronavirus pandemic.
Myer says it will reopen all of its stores, with Perth City due to reopen next Wednesday, in line with most other stores around the country, while its Karrinyup store is set to reopen next weekend once a refurbishment project is complete.
BHP has selected former iron ore boss Edgar Basto to lead its Australian mining operations, after he served as acting minerals president since the appointment of chief executive Mike Henry last year.
The biggest player in Australia’s litigation funding market has supported new licensing rules proposed by the federal government while also pushing for the new requirements to be extended to law firms.
Wesfarmers has outlined plans to halve Target's 284-store network and slash jobs after a review found financial performance unsustainable at the troubled Target business.
Global benchmark Brent rose more than 1 per cent overnight to its highest price since March, supported by lower US crude inventories, OPEC-led supply cuts and recovering demand as governments ease coronavirus restrictions on people's movements.
Gold fell more than 1 per cent overnight as investors booked profits from recent rallies and some switched to the safety of cash driven by growing US-China trade tensions and doubts about an economic recovery.
The Australian share market has snapped its four-day winning streak, closing modestly lower after it failed to rise above a level closely watched by short-term traders.
Shares on the Australian market have risen by more than 0.5 per cent in early trade as investors look to a swift recovery from the coronavirus pandemic.
Oil prices rallied overnight after US crude inventories fell in the most recent week, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins.
Gold rose overnight amid extensive stimulus measures and uncertainty over a possible coronavirus vaccine, but bullion's gains were limited as risk appetite improved on hopes of an economic recovery.
Premier Mark McGowan has criticised a push by the NSW and federal governments for Western Australia to reopen interstate borders, citing the eastern states’ inconsistent health advice and high rates of community transmission.
The City of Perth has deferred until next month any decision on whether to go ahead with three major events, following a recommendation by the city’s administration to cancel scheduled events due to uncertainty caused by COVID-19.
US crude ended slightly higher overnight, as US Treasury Secretary Steven Mnuchin said he supported extending certain measures intended to bolster the economy, while Brent ended lower on concerns that output cuts might not be sufficient.
Gold rose overnight amid uncertainty over how economies would emerge from a deep slowdown, although optimism about a potential vaccine for the novel coronavirus capped bullion's advance.
The local bourse has busted out of its trading range to close at a two-month high as share markets around the globe rallied on hopes for a coronavirus vaccine.
Gutted Australian barley growers have warned of a bitter blow to the nation's economy after China confirmed today it would introduce an 80 per cent tariff on imports.
Shares have surged by more than 2.0 per cent in early ASX trade, taking the lead from overnight gains on Wall Street due to rising hopes of a coronavirus vaccine.
Oil prices overnight jumped to their highest values in over two months on positive early results on a potential coronavirus vaccine, optimism about a resumption in economic activity and signs producers were following through on planned output reductions.
