News

Gold edged higher as the US dollar eased off a six-month high against the Japanese yen, but bullion failed to gain traction as traders said US-China trade tensions so far were boosting the greenback instead of the precious metal.

Brent crude has strengthened, recouping some of its losses from the previous session as market focus returned to concerns about spare capacity following a warning from the International Energy Agency (IEA).

US stocks have climbed as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before.

Strong showings from healthcare heavyweights and the major banks have propelled the Australian share market to its highest close for a decade after a nutty day of trading.

Australian shares have opened higher as strong gains from financial and consumer staple stocks more than offset materials and energy weakness from falling commodity prices.

Gold prices have slipped as US threat of tariffs on an additional $US200 billion of Chinese goods pushed safe-haven flows to the US dollar and dashed hopes that Washington would eventually step back from the escalating row.

Global benchmark Brent crude oil has had its biggest one-day drop in two years as escalating US-China trade tensions threatened to hurt oil demand, and news that Libya would reopen its ports raised expectations of growing supply.

US stocks have fallen, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional $US200 billion ($A270 billion) worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.

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Rio Tinto has extended its contract with Perth-based towage company Westug at its two Pilbara iron ore ports, in a deal worth $200 million.

The Australian share market and the Aussie dollar have both come under pressure after the US ramped up its trade war with China.

Australian shares have opened lower after renewed reports of imminent US tariffs checked the momentum of a strong Wall Street close.

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Wall Street's S&P 500 index rose for a fourth session to post its highest close since February 1, the day before the market began a sharp extended selloff, as strong results from PepsiCo boosted optimism about the earnings season.

Oil prices have risen, supported by a larger-than expected US stock draw and supply concerns in Norway and Libya.

Gold prices have been weighed down by a stronger US dollar, and may re-test a seven-month low after a failed attempt to break higher in the previous session.

The Australian share market has snapped its three-day winning streak, hit by losses in the big four banks and consumer-exposed stocks.

Diversified contractor Tempo Australia has announced it will acquire NSW-based telco services company Comsite Services in a deal worth up to $4 million.

Australian shares have opened higher, materials and energy leading the way following an overnight lift in commodity prices.

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Gold has risen, touching its highest in two weeks as the US dollar weakened and the Chinese yuan recovered from June's lows.

Oil prices have gained, with US crude ending a choppy session higher on expectations for a Canadian production outage lasting until September, while global benchmark Brent gained on looming sanctions on Iran and falling output in Libya.

US stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week.

The Australian share market has closed higher for a third straight trading session, buoyed by mining and financial stocks.

UK-based Black Dragon Gold has announced plans for a $6 million initial public offering and listing on the Australian Securities Exchange.

Southern Cross Electrical Engineering has been awarded a $55 million electrical instrumentation installation contract at the Westconnex M5 road project in NSW.

Altech Chemicals has raised $17 million to help fund the construction of a high-purity alumina (HPA) plant in Malaysia.

Australian shares have opened the trading week slightly higher, building on a strong end to last week and following a positive lead from Wall Street.

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US stocks have climbed, with the S&P 500 and the Nasdaq hitting their highest levels in two weeks, as strong US jobs growth blunted the impact of an escalating US-China trade dispute.

Oil prices were mixed at the end of last week as a Canadian supply outage supported US crude prices, while an increase in production from OPEC's biggest exporter Saudi Arabia pushed Brent lower.

Gold prices fell at the end of the week but bounced off session lows as the US dollar weakened and equities rose.