The Australian sharemarket has closed flat after being tugged in opposite directions by mixed earnings reports from 16 of the nation's top 200 companies.
Infrastructure Australia has identified 16 priority projects for Western Australia, highlighting several major differences with the state government's priorities, including the Morley-Ellenbrook line.
Gold prices rose to hit a peak in more than a week overnight on signs that the US Federal Reserve will likely be patient on further interest rate rises, but rallying global equities kept the metal's gains in check.
Oil prices rose 2 per cent overnight after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production but swelling US crude inventories led the market to pare gains.
Western Australia's peak tourism body has called for greater restrictions on short-stay accommodation providers claiming residential properties on Airbnb do not increase visitation to the state.
The federal government's latest research funding round will focus on minerals including lithium, cobalt and titanium in an effort to boost Australia's resources sector.
Oil prices were up more than 2 per cent overnight on steep OPEC production cuts, with its de-facto leader Saudi Arabia planning to drop March crude output by more than a half a million barrels per day below its initial pledge.
Gold prices edged higher overnight, buoyed by a slight retreat in the US dollar amid optimism about a potential resolution of the US-China trade conflict.
Wall Street has rallied as investors were heartened by a tentative congressional spending deal to avoid another partial federal government shutdown and by optimism surrounding US-China trade negotiations.
AusGroup's LNG contract with Chevron in Western Australia has been extended, while CPB Contractors has been awarded packages for Australia Pacific LNG in Queensland.
Gold prices fell overnight as investors preferred the safety of the US dollar in the face of mounting concerns that the US-China trade dispute could slow global growth.
Wall Street has see-sawed, rarely straying far from opening levels as investors eyed ongoing US-China trade talks, potential congressional gridlock and a diminished 2019 earnings outlook.
Australian stocks have slipped into negative territory as a strong performance by the big miners was unable to make up for losses in shares of the major banks.
The benchmark S&P 500 index and the Nasdaq edged upward to snap a two-day losing streak on Friday as positive corporate results offset lingering scepticism over the United States and China reaching a trade deal before the March 1 deadline.
Oil futures edged higher on Friday but ended the week with a loss on renewed concerns about slowing global demand and after the US dollar posted its best week in six months.
Gold rose on Friday as a gloomy global economic outlook dented risk appetite, but a firm US dollar stemmed bullion's advance and kept the metal on track for its first weekly decline in three.
The Reserve Bank of Australia has revised down its economic forecasts as expected, but the Australian dollar has plunged again after the central bank surprised the market with the scale of its revisions.
