Gold prices have risen as global stocks fell on data showing China exports unexpectedly fell, pointing to further weakening in the world's second-largest economy and prompting investors to seek safety in the precious metal.
Disappointing Chinese trade data has given Australia's mining and energy sectors a whack and kept the broader market flat after what promised to be a positive start to the week.
Wesfarmers is expected to make a profit of $2.1 billion to $2.3 billion from the November demerger of its Coles supermarket division, and $670 million to $680 million from the sale of its stake in the Bengalla coal mine.
Australian shares are trading slightly higher but energy stocks continue to weigh at noon, while shares in Wesfarmers are in the red after the retail giant announced a weak Christmas for Kmart.
Oil prices have fallen nearly two per cent as investors worried about a global economic slowdown, snapping a nine-day winning streak spurred by US-China trade hopes, but clung to some gains from that rally to end the week higher.
The Australian share market hasn't been able to sustain its four-day rally despite strong retail sales figures, with banks and miners weighing on the bourse.
Vector Resources has acquired a 60 per cent stake of the Adidi-Kanga gold project in the Democratic Republic of Congo, in a cash and scrip deal worth about $14 million.
Shares in uranium stocks Berkeley Energia and Eclipse Metals have risen sharply amidst positive news relating to the companies' respective flagship projects.
Retail spending rose 0.4 per cent in November, beating market expectations, in a sign that Australians have well and truly embraced the Black Friday and Cyber Monday discount sales.
Asian stocks have inched upwards to one-month highs after US Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further.
Oil prices are slightly lower in see-saw trade, easing the day after a strong rally as investors were no longer encouraged by US-China trade talks and as weak Chinese economic data dampened risk appetite.
Wall Street has extended its rally into a fifth straight day in a session of whipsaw trading as investors responded to mixed comments by US Federal Reserve Chairman Jerome Powell, while a warning from Macy's pummelled retail stocks.
The Australian share market has had a flat finish to the day, as a 3.4 per cent fall in BHP shares after market giant went ex-dividend, offset any gains elsewhere.
Perseus Mining has awarded the engineering and supply contract at its Yaouré gold project, located in the West African country of Côte d'Ivoire, to fellow Perth-based company Lycopodium.
Early losses for market giants BHP and Commonwealth Bank have offset oil-driven gains for the Australian share market, which is flat at the open despite renewed global trade optimism.
Wall Street has rallied for a fourth session, propelled by Apple, chipmakers and other trade-sensitive stocks after signs of progress in trade talks between the United States and China.
Oil prices have jumped more than four per cent as the extension of US-China talks raised hopes of easing trade tensions between the two superpowers, while OPEC-led crude output cuts also provided support.
The Australian share market has closed at an eight-week high, thanks to growing optimism about the US-China trade negotiations and the continued surge in oil prices.
The tourism industry has called for the establishment of a growth fund following the release of data showing a 7 per cent fall in spending by international tourists in Western Australia during the past year.
Red Emperor Resources has tapped investors for £2.8 million (approximately $5 million) from a share placing to increase working capital as it prepares for the drilling of the Winx-1 exploration well in Alaska.
Job vacancies in Australia edged higher in the three months to November to notch an all-time peak, hinting that demand for labour remains strong despite a low unemployment rate.
Oil prices have risen by more than two per cent, supported by hopes that crude demand may rise more quickly if talks between US and Chinese officials resolve the trade dispute between the world's two biggest economies.
Gold slipped as the US dollar rose and prospects of a US-China trade deal increased investors' appetite for riskier assets such as stocks, while palladium notched a fresh all-time high on tight supply.
