A rally in the final hour of trade wiped out heavy afternoon losses on the Australian share market as the ASX narrowly avoided a third straight session in the red.
The state government has approved the use of recycled construction and demolition (C&D) waste as road base for the Kwinana Freeway widening project, seven years after the Barnett government’s attempt to do the same thing foundered.
Wesfarmers shareholders have voted to approve the $20 billion demerger of its supermarket business Coles, 11 years after it acquired the group in Australia’s biggest corporate takeover.
Uranium explorer Vimy Resources has announced a major restructuring, including the resignation of three directors, further cost-cutting and a focus on its base metals project.
Australian shares have eked out modest gains at the open despite an overnight sell-off on Wall Street, with healthcare and mining stocks lifting in early trade, though the banks were weighing on the bourse.
Oil has bounced nearly two per cent, recouping some of the previous session's heavy sell-off, on the growing prospect that the Organisation of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up the market.
Wall Street stocks have declined, with the S&P 500 notching a fifth straight day of losses as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the US House of Representatives.
Gold rose one per cent overnight, helped by a slight retreat in the dollar following a rally and as some investors covered their short positions after the metal held the key $US1,200 level.
The Australian share market has lost more than one and a half per cent for the second consecutive day with commodity-related stocks suffering heavy losses on plunging oil prices.
Energy stocks are sapping the Australian share market in early trade, with the bourse slipping on plunging oil prices and choppy overnight results on Wall Street.
Gold shook off earlier losses to move back above the key $US1,200-per-ounce level, benefiting from a slight retreat in the dollar after a rally driven by the US interest rate outlook and Brexit talks.
Oil's price slide has accelerated, with US futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply.
Broad-based losses to the local indices dragged the Australian share market down following a sell-off on Wall Street overnight and weakening oil prices.
Broad-based losses to the local indices dragged the Australian share market down following a sell-off on Wall Street overnight and weakening oil prices.
Australia Institute of Management WA chief executive Gary Martin was the only Western Australian to be named in LinkedIn’s inaugural list of top influential opinion makers.
US crude prices turned negative as President Donald Trump said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting supply next year, citing softening demand.
Wall Street's major indexes declined, with the S&P 500 weighed by technology and financial stocks as shares of Apple and Goldman Sachs came under pressure.
Gold slid to its lowest level in a month overnight as the dollar rose to 16-month highs, boosted by the US Federal Reserve's hawkish interest rate policy and political uncertainty in Europe.
Kimberley Wild Expeditions, a member of the Indigenous Champions Program, won the tourism industry’s highest prize over the weekend, just days after the Tourism Council WA called on the state government to maintain funding for Aboriginal tourism.
Heavyweight banking and mining shares dragged on the market during early trade, with Australian shares opening the new week lower in the wake of a Wall Street sell-off and concerns over a Chinese economic slowdown.
Oil prices have fallen nearly a percentage point as global supply increased and investors worried demand growth could slow, pressuring US crude to its longest stretch of daily declines since 1984.
Gold has fallen by more than a percentage point to a one-month low as the US dollar strengthened after the Federal Reserve reaffirmed its monetary tightening stance, seen as a negative for non-yielding bullion.
A late rally from banking and health care stocks limited losses to the local indices but falling oil prices ensured the energy sector would drag the Australian share market lower at the close.
Local banking and health care stocks have jumped at the open, but meaningful early gains for the Australian market have been wiped out by the materials and energy sectors.
