AAP

Australian shares have dipped lower as gains in the energy and health care sectors were cut down by the rest of the market.

Oil futures jumped more than 2 per cent overnight after US crude inventories unexpectedly plunged and as top OPEC producer Saudi Arabia appeared unfazed by pressure from US President Donald Trump to prevent oil prices from rising.

Gold prices fell to their lowest in nearly two weeks overnight, pressured by a mild revival in the US dollar after comments from the US Trade Representative dampened expectations of a quick resolution to the US-China trade dispute.

Australian shares have finished higher on gains by the big miners and banks while investors took stock of several new earnings reports.

Australia's biggest miner Rio Tinto says it will return billions to shareholders, after it recorded a 2 per cent rise in underlying earnings for 2018, to US$8.63 billion ($12.2 billion).

Vocus Group says it is shifting its focus from the "complex and economically unattractive" NBN in favour of offering customers 5G fixed wireless.

Australian shares have climbed higher on gains by the big miners and banks while investors took stock of several new earnings reports.

Oil futures steadied overnight on signs that OPEC plans to maintain production cuts despite pressure from US President Donald Trump, whose comment criticising rising crude prices sent the market into a tailspin a day earlier.

Palladium broke past $US1,550 an ounce for the first time overnight on the back of intensifying supply deficit, while gold steadied after US Federal Reserve Chairman Jerome Powell reiterated the central bank's patient stance in further rate hikes.

Australian shares have fallen across the board, led lower by the tech sector that had been the main gainer a day earlier.

TPG Telecom will make $228 million of first-half write-downs related to its decision to stop building its mobile network.

Australian shares have fallen across the board, led lower by the tech sector that had been the main gainer a day earlier.

Palladium hit a new record high overnight as the threat of strikes in the South African mining industry raised fresh concerns about a supply deficit for the metal, while gold held steady as the US dollar slipped on signs of a US-China trade deal.

Oil futures sank more than three per cent overnight after US President Donald Trump said OPEC should ease its approach on boosting crude prices, which he said were "getting too high".

Wall Street's three major indexes have ended higher but well below the session's highs after US President Donald Trump said he would delay a planned hike in tariffs on Chinese imports.

Mining giant BHP Group has reached a settlement with the train driver who was fired over a huge derailment in Western Australia's Pilbara region last year.

Australian shares have finished higher as investors cheered optimism about a potential US-China trade deal.

Lendlease is considering offloading its engineering and services unit after the property and infrastructure group's first-half profit crashed 96.3 per cent to $15.7 million.

Prime Minister Scott Morrison was adamant Australia will meet its emissions reduction targets, as he committed $2 billion to a fund which pays businesses to slash pollution.

Australian shares have moved higher as investors cheered optimism about a potential US-China trade deal.

Gold rose on Friday on the way to a second weekly gain as the US dollar was subdued by weak US economic data and hopes of a breakthrough in the US-China trade dispute, with a darkening global economic outlook bolstering bullion.

Oil prices touched their highest since mid-November on Friday and posted weekly gains for the second week in a row, boosted by hopes that US-China trade talks would soon produce a deal, although new record US oil supply limited gains.

Australian shares have finished higher despite a drag from the energy sector weakened by coal exports to China.

Regis Aged Care chief executive Ross Johnston will leave his role with the aged care provider in September.

Automotive Holdings Group has skidded to a first-half loss, scrapping its dividend and cutting its guidance after a flagged $223 million write-down against its struggling car yards and refrigerated logistics business.

Australian shares have opened lower after a negative lead from Wall Street and amid concerns about coal exports to China.

Oil prices sank below recent 2019 highs as US government data overnight showed a sharp build in crude stocks and record production, while concerns about slowing global economic growth weighed on the market.

Gold slipped from a 10-month peak overnight, pressured by signals the US Federal Reserve will not adopt as dovish a stance on monetary policy as previously thought and as investors booked profits, while palladium retreated from a record high.

Australian shares have rebounded from a choppy morning to close higher on the backs of the big banks and discretionary consumer stocks.

Western Australia’s unemployment rate has spiked to a 17-year high, at 6.8 per cent in seasonally adjusted terms, while the national numbers held steady.

Former foreign minister Julie Bishop has declared she is retiring from federal parliament at the next election, about six months after she left the role in the aftermath of a leadership spill.

Santos, Australia's second largest independent gas producer, has reported a more than doubling in full-year underlying profit following the acquisition of Quadrant assets and higher realised prices for its oil and gas.