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Submarine work likely to stay in SA

Oil prices rose overnight, as optimism about recent commitments from major oil producers to curb production offset concerns that a resurgence in coronavirus cases could hurt fuel demand.

Gold jumped more than 1 per cent overnight as risk appetite took a back seat with cautious investors awaiting clarity on the state of the economy and further stimulus from the US Federal Reserve's policy meeting.

The local bourse has soared higher yet again, climbing for the sixth straight day as central bank stimulus poured money into the market.

Australia's unemployment rate is expected to hit eight per cent when wage subsidies, but the forecast is looking less grim as the health situation improves.

Hundreds of people have rallied outside Rio Tinto's headquarters to protest the mining giant's destruction of a significant indigenous site in Western Australia.

Saracen Properties and Security Capital Australia have announced the development of a $100 million, five-star spa and resort in Margaret River, a boon for the South West region's tourism industry as it pursues a post-pandemic revival.

Wesfarmers says it is seeing significant demand growth in its Bunnings and Officeworks businesses as customers spend more time at home, amid coronavirus restrictions.

Eastern states-based fly-in, fly-out workers, who work and temporarily live in Western Australia due to COVID-19 border restrictions, are being offered incentives to permanently relocate and help boost the state's economy.

The Australian share market has jumped more than 3.0 per cent in early trade, taking the lead from strong gains on Wall Street overnight.

Perth set to be next AFL hub

Gold rose overnight after the previous session's steep fall, boosted by hopes of dovish monetary policy from the US Federal Reserve.

Oil fell more than 3 per cent overnight after OPEC+ nations agreed to extend output cuts, but Saudi Arabia and two other Gulf producers said they would not maintain supplemental reductions that amount to more than a million barrels of daily supply.

The Australian share market is tipped to move into the 6,000-level following better-than-expected US jobs figures, higher commodity prices and a continued tail-off in Australian coronavirus cases.

Former Channel 7 reporter and current 6PR weekend presenter Mark Gibson has declared he will run for Lord Mayor of the City of Perth in October’s election, becoming the third candidate to announce a bid for the top job.

Parents will have to pay childcare fees again from July 13 as demand grows for services and early educators will stop receiving JobKeeper payments the following week.

A wave of home-building and renovation work is the goal of a $444 million stimulus package unveiled by the state government as it seeks to pull the state economy out of a coronavirus-induced downturn.

Parents and visitors are now allowed on school grounds in Western Australia as the state government moves to lift more coronavirus restrictions.

States at risk of LNG shortage

Wall Street has surged after a strikingly upbeat May jobs report unexpectedly provided the clearest evidence yet that the US economy is headed for a quicker-than-anticipated recovery.

The local bourse has shrugged off its early losses to close at a fresh 13-week high despite a slumping CSL dragging down the market.

Foreign investors will face a tough new national security test designed to protect Australia's critical assets from falling into the wrong hands.

Western Australian health authorities say they have not approved mandatory coronavirus self-testing for fly-in, fly-out workers employed by Fortescue Metals Group.

Shares on the Australian market have slipped in early trade after Wall Street ended its four-day run of gains.

Healthy businesses face JobKeeper axe

Oil prices were little changed in choppy trade overnight as investors awaited a decision from top crude producers on whether to extend record output cuts.

Gold rose more than 1 per cent on Thursday as the dollar retreated and Wall Street paused its recent rally as dismal US trade data overshadowed slightly upbeat labor market numbers and optimism about an economic rebound.

The local bourse has gained for the fourth day this week, rising to its highest level since March 6 on a wave of optimism about the country's economic recovery.

Qantas has announced the airline and its low-cost carrier Jetstar will scale up flights on domestic and regional routes in June and July.

Shares have opened up by more than 1.0 per cent on the Australian stock market and financials have rocketed more than 3.0 per cent.

Success against virus boosts rare earths

Oil ended slightly higher overnight but remained below the session's early highs of above $US40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.