AAP

Arrivals from Victoria face mandatory 14-day hotel quarantine at their own expense in Western Australia while travellers from NSW will be tested immediately.

The Australian share market has managed a late recovery to end the week higher, with shares in Fortescue Metals Group hitting an all-time high of $16.66.

The federal government hopes Australia will be the backdrop of more screen productions thanks to $400 million to help the industry recover from coronavirus.

Rio Tinto has reported a 1.5 per cent rise in iron ore shipments for the second quarter and says demand for the steelmaking ingredient is improving in China.

Scott Morrison is preparing to introduce another wave of coronavirus economic support with almost one million Australians now out of work.

Oil prices fell 1 per cent overnight after OPEC+ agreed to ease record supply curbs and as new infections of the novel coronavirus continue to surge in the United States.

Gold fell below the key $US1,800 level overnight as the US dollar strengthened and the European Central Bank kept its monetary policy on hold, prompting some investors to lock in profits.

The Federal Court has ordered private health insurer Medibank to pay $5 million in penalties for making false representations to customers.

The Australian share market has closed lower as Victoria reported the most coronavirus cases since the start of the pandemic and the country's unemployment rate hit a two-decade high.

Helloworld Travel has announced a $50 million capital raising at a hefty discount to bolster its balance sheet as the travel company looks to survive the coronavirus pandemic.

A $2 billion push to train school leavers and job seekers during the coronavirus pandemic will put the onus on businesses to hire staff.

Thousands of small to medium businesses in WA will be eligible for state government grants of $17,500 to help them recover from the economic impacts of COVID-19.

Gold prices edged up overnight, holding above the key $US1,800 level, as a surge in coronavirus cases and simmering US-China tensions bolstered safe-haven demand, but a strong equities market capp

Oil prices rose 2 per cent on Wednesday, supported by a sharp drop in US crude inventories, but further gains were limited as OPEC and its allies are set to ease supply curbs from August as the global economy gradually recovers from the coronavirus pandemic.

Western Australia has recorded eight new cases of coronavirus, pushing the state's active caseload to its highest point in five weeks.

The local bourse has enjoyed its best day in nearly a month, with all sectors posting gains as investors looked past worries about a resurgence in coronavirus cases.

Origin Energy will book impairments of $1.2 billion after tax, joining other energy majors that have cut the value of their assets after a coronavirus-induced drop in oil and gas prices.

More than 200,000 Brazilian people and groups will next week kick off a £5 billion ($A9 billion) lawsuit against Anglo-Australian miner BHP in Britain over a 2015 dam failure that led to Brazil's worst environmental disaster.

Oil prices rose slightly overnight as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States.

Gold prices firmed above the key $US1,800 level overnight, underpinned by concerns over mounting coronavirus cases globally as many regions reintroduced curbs to restrict the outbreak.

The Australian stock market has closed lower, dragged down by weakness in technology stocks after a stellar run.

Anyone who flies into Western Australia from coronavirus-stricken Victoria will be immediately tested for COVID-19 when they land and travellers from NSW could be next if the outbreak there worsens.

Oil prices slipped about 1 per cent overnight after global coronavirus cases rose by a record daily amount, fanning fears of renewed government lockdowns, and on growing US and European tension with China.

Gold prices firmed above the key $US1,800 level overnight, as surging US coronavirus cases boosted hopes for more stimulus measures by the Federal Reserve to cushion the economic fallout from the pandemic.

A fourth person has been charged with corruption offences in relation to a $22 million public sector rort in Western Australia.

Major moves by banks and mining companies have given the local bourse a strong start to the week even as local coronavirus cases surge.

Oil Search plans to write off up to $US400 million ($A576 million) due to the outlook for oil and gas prices and the shutdown of a gold mine.

Australian shares have jumped nearly 1.5 per cent in early trade, with investor sentiment buoyed by a strong closing on the US markets last week on hopes of a coronavirus treatment.

Oil prices climbed more than 2 per cent on Friday after the International Energy Agency (IEA) bumped up its 2020 demand forecast but record-breaking new coronavirus cases in the United States tempered expectations for a fast recovery in fuel consumption.

Gold fell on Friday as gains in US equities trimmed flows into bullion, which was still on track for a fifth straight weekly gain after soaring to its highest level in nearly nine years last week on surging COVID-19 infections.

The Australian share market has finished lower for the fourth time this week as investors ponder the impact of virus lockdowns in Victoria.

Western Australia will delay easing its final COVID-19 restrictions by at least two weeks as it monitors the outbreak in Victoria, which recorded 228 COVID-19 cases overnight.