Oil prices edged lower overnight as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, but losses were limited as major producers agreed on deeper output cuts to bolster prices.
Gold prices climbed two per cent to a more than one-week high overnight as worries over the global spread of the coronavirus spurred more safe-haven flows and hopes of further monetary policy easing by major central banks.
TPG and Vodafone are a step closer to completing their planned $15 billion merger after the competition watchdog announced it would not appeal a Federal Court decision allowing the deal to proceed.
Department store giant Myer has reported a 37 per cent drop in first half profit, weighed down by restructuring costs, redundancies and the exit of Apple products and Country Road Group brands.
Crude oil prices were mixed, giving up early gains despite expectations that major producers were closing in on an agreement to cut supply aimed at offsetting a slump in demand caused by the coronavirus outbreak.
Gold held steady overnight following a surge in the previous session on the US Federal Reserve's surprise rate cut, as a firmer dollar and strong uptick in risk sentiment limited bullion's upside.
The Australian stock market has suffered another monster sell-off, losing ground for the eighth time in nine days as three of the country's four big banks plunged to their lowest levels in many years.
Oil prices fell in a volatile session on Tuesday, succumbing to fears the coronavirus would take a heavy toll on energy demand even after the Federal Reserve cut US interest rates and OPEC and allied producers considered more output cuts to support prices.
Gold surged overnight after the US central bank cut interest rates to help cushion the economic damage caused by the coronavirus outbreak and on expectations of policy easing by other major central banks.
The Australian share market has snapped a seven-day losing streak in which it lost over $250 billion in value over fears from the coronavirus epidemic.
Flinders Mines has gained shareholder approval to progress its Pilbara iron ore project, following months of questioning from minority shareholders over the role major shareholder Todd Corporation would play in developing the project.
The Reserve Bank of Australia has cut the cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus, with Australia's "big four" banks each announcing they would pass on the rate cut in full.
The Australian share market has powered more than 1.5 per cent higher as investors punt on global central banks taking stimulus action to ease economic pain caused by the coronavirus.
Oil prices rose over 5 per cent overnight, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
Gold rose nearly 1 per cent overnight after suffering its largest daily fall in nearly seven years, as expectations grew for policy easing by the US Federal Reserve and other central banks to help boost the coronavirus-hit global economy.
The Australian share market has suffered its worst day in over four years, closing the day at a six-month low amid a growing panic the coronavirus outbreak will trigger a global recession.
Rio Tinto today reported the discovery of around 200 million tonnes of iron ore reserves at its Western Range deposit, following the completion of a pre-feasibility study and the signing of a non-b
Gold pared gains as investors booked profits after prices climbed more than 1 per cent earlier in the session on mounting worries about how the coronavirus outbreak might hurt the global economy.
Oil prices tumbled for a fifth day overnight to their lowest in more than a year, as further novel coronavirus cases outside China fanned fears that a pandemic could slow the global economy and erode demand for crude.
The Australian share market's remarkable gains for the year have vanished in four days of tumultuous trading as government officials rolled out worst-case scenarios for a response to the coronavirus outbreak.
Western Australia is the top jurisdiction in the world for mining investment, moving up from second place a year earlier, according to a recent survey from the Fraser Institute.
Australia's travel ban on people coming from China has been extended for a further week as the government enacted an emergency response plan to deal with the coronavirus.
