AAP

The Australian share market has closed higher for a third day, playing catch-up after the US and China struck a truce on tariffs after Friday's close.

Covalent Lithium's Earl Grey lithium project has been recommend for approval by WA's Environmental Protection Authority provided its proponents minimise the impact on flora and fauna, including chuditch and malleefowl.

The big banks have said they welcome the competition watchdog inquiry into mortgage pricing, with ANZ chief executive Shayne Elliott admitting lenders have not properly explained why their rates do not keep pace with the tumbling cash rate.

Oil prices rose as high as $US60.65 a barrel on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia but bearish oil demand forecasts soon pulled crude off session highs.

Gold fell over 1.0 per cent on Friday, en route to its biggest weekly decline since March, as easing concerns about the US-China trade conflict and Britain's exit from the European Union renewed appetite for riskier assets.

The Australian share market has closed solidly higher amid optimism that progress is being made between the US and China on trade.

Climate activists have brought traffic to a standstill in Perth's CBD as streets were shut down and police arrested protesters causing disruption.

The Australian share market has opened sharply higher as investors keep an eye on US-Chinese trade talks.

Oil prices rose overnight, buoyed by comments by the head of OPEC that the organisation could take action to balance oil markets and that it will decide in December on supply for next year.

Gold prices retreated from a one-week peak overnight while palladium prices marked an all-time high after a report suggested that the Chinese government wants to reach an agreement with the US administration to avoid further escalation of a ongoing trade row.

The Australian share market closed flat after a rollercoaster day caused by conflicting reports about US-Chinese negotiations.

The Perth restaurateur behind The Meatball Bar and MOP Donuts has been found guilty of assault but acquitted over claims he threatened to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

AMP is combining its banking and Australian wealth management units in a major restructure, creating a new organisation called AMP Australia.

Orora shareholders are in line to pocket $1.2 billion after the company decided to offload its cardboard packaging unit to Japan's Nippon Paper for $1.7 billion.

Oil prices rose overnight following media reports that China's government was open to a partial trade deal with the United States and after Turkey launched a military operation in northern Syria but a build in US crude inventories limited gains.

Gold eked out gains on bets of further rate cuts by the US Federal Reserve as investors awaited minutes from the central bank's September meeting overnight but hopes of a China-US trade deal buoyed risk sentiment and capped bullion's gains.

The Australian share market has closed lower, as pessimism about the outcome of the upcoming US-China trade negotiations weighs on market confidence.

BHP says big miners' profits will not survive if they simply pay lip service to the social and environmental toll of resource extraction, with the "social value" of a business decision increasingly important to a company's long-term future.

The National Broadband Network has copped an official warning from the competition watchdog after the taxpayer-funded wholesaler allowed one telco to see sensitive pricing information months before its rivals.

Oil prices slid about 1.0 per cent overnight as the US government's plans to blacklist more Chinese companies dampened hopes for a trade deal between the two countries, although unrest in Iraq and Ecuador lent some support to crude prices.

Gold prices gained overnight, bouncing off a one-week low touched earlier in the session, as uncertainties over US-Chinese trade talks and Brexit drove a decline in stock markets and prompted investors to seek refuge in the safe-haven metal.

The Australian share market has closed higher for a third day ahead of another round of US-China trade talks.

ANZ has announced another $559 million in customer remediation.

The Australian share market has opened higher, shrugging off a negative lead from Wall Street.

Oil prices were up overnight, buoyed by hopes of progress in US-China trade talks and supported by challenges to supply facing major exporters.

Gold prices inched lower overnight but held a tight range around the $US1,500 level as investors took a cautious approach ahead of the US Federal Reserve minutes and trade talks between the US and China this week.

The Australian share market has posted gains across the board after jobs figures from the US reassured traders that the world's largest economy wasn't on the brink of recession after all.

The Perth restaurateur behind The Meatball Bar chain, Gourmet Republik, and Thuggs Fried Chicken and Waffles, is accused of threatening to destroy a man's cafe and put him "in a coffin" over some fruit and vegetables.

Oil prices rose about 1.0 per cent on Friday as an increase in US jobs eased some financial market concerns that a slowing global economy could dent oil demand but crude still fell more than 5.0 per cent on the week, its second consecutive weekly decline.

Gold steadied on Friday, paring earlier gains as bets the US Federal Reserve would cut interest rates aggressively this year were tempered after better-than-expected US jobs data, but bullion was still on track for a weekly gain.

Live export company Emanuel Exports and two of its former directors have strongly indicated through their lawyer they will plead not guilty to animal cruelty charges stemming from a sweltering voyage to the Middle East on which about 2,400 sheep died.

The Australian share market has made up a bit of its losses from the past two days but still ended the week down three per cent - its worst week since mid-November.