AAP

Former foreign minister Julie Bishop says she intends to stand for her seat again at the coming election and has given her backing to Prime Minister Scott Morrison.

Australian shares have enjoyed their fourth straight day of gains as the local currency slides further against the US dollar.

AGL Energy has continued its growth in the Western Australian gas market, revealing it had approximately 33,000 customers by the end of 2018, a rise of 12,000 from six months prior.

NAB chief executive Andrew Thorburn and chairman Ken Henry are stepping down, becoming the highest-profile banking casualty of the financial services royal commission.

David Jones chief executive David Thomas has resigned after almost 18 months in the role and just weeks after results showed an improved first-half performance.

AMP has continued the overhaul of its upper ranks, replacing the head of its wealth management unit days after the release of the royal commission's final report.

Australian shares are rallying at midday while the local currency shows no sign of halting its slide against the US dollar.

Oil prices rose about 1 per cent overnight, boosted by signs of strong US demand for distillate products and tightening global crude supply, but gains were capped by a rising US dollar and ongoing concerns about a global economic slowdown.

Gold eased overnight on a firmer US dollar as investors waited for signs of resolution in US-China trade talks, while keeping an eye on the Federal Reserve's monetary policy.

US stocks have edged lower as videogame makers gave disappointing revenue forecasts and investors awaited developments on US-China trade relations.

Australian shares have finished higher for a third straight day, while the Australian dollar has hit the skids after the Reserve Bank opened the door to a possible rate cut.

Coles has signed a new deal with petrol partner Viva Energy Australia after predicting earnings from its convenience store division to plunge this year more than 60 per cent.

Commonwealth Bank of Australia's first-half cash profit has fallen 2.1 per cent to $4.676 billion, weighed down by Australia's slowing property markets.

Australian shares have strayed into positive territory at midday as mining shares picked up the slack while the major banks lost some of their gains of the previous day.

Oil prices fell overnight, pulling back from two-month highs as concerns over a global economic slowdown crept back into the market and a stronger US dollar also weighed.

Gold moved slightly higher overnight, supported by uncertainties surrounding US-China trade relations ahead of President Donald Trump's State of the Union address to the Congress, while a firmer US dollar and rising global stock markets capped gains.

US stocks have closed higher as largely upbeat corporate results fuelled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump.

The Australian share market has had its biggest day in 26 months as investors breathed a sigh of relief the Hayne royal commission hadn't recommended harsher penalties for the big banks.

The Reserve Bank of Australia has again kept the official cash rate at a record low of 1.5 per cent, but Governor Philip Lowe has tempered his economic outlook.

National Australia Bank chief executive Andrew Thorburn says he is "more determined than ever" to lead the bank despite strong criticism from Kenneth Hayne in his final royal commission report.

The current and former prime ministers agree they waited too long to call the banking royal commission but the treasurer says it's time to look forward, not back.

Australian shares are rallying at midday lead by the big four banks, with investors seemingly relieved that the financial services royal commission had not recommended harsher measures.

Oil prices fell overnight after disappointing US factory data sparked fresh concerns about a slowdown in the global economy, but losses were limited as OPEC-led supply cuts and US sanctions against Venezuela pointed to lower supplies.

Gold retreated to a near one-week low overnight as the US dollar built on momentum from upbeat US economic data, denting bullion's appeal.

Wall Street has gained on Monday, with all three major indexes closing near session highs as sustained optimism on the prospects for US-China trade relations propelled technology shares.

Financial stocks have given the Australian share market a surprising lift despite the sector bracing for the fallout from a landmark misconduct inquiry.

The banking sector has been told it "must change forever" for forcing the Australian community to pay an immense financial and emotional price over many years.

Some of Australia's bank chiefs remain unwilling to accept responsibility for poor conduct, royal commissioner Kenneth Hayne says.

The corporate watchdog has told Commonwealth Bank of Australia's financial planning unit to stop charging customers with fees after failing to meet its obligations from the fees-for-no-service scandal.

Australian shares are in positive territory at midday after stocks in the four major banks gained, shaking off concerns about the release of the financial services royal commission on Monday afternoon.

Oil prices rose about 3 per cent on Friday on upbeat US jobs data and signs that US sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly data showed U.S. drillers cut the number of oil rigs.

Gold slipped on Friday, weighed down by robust US jobs data, but remained on course for a second week of gains buoyed by the US Federal Reserve's signal that it would pause its interest rate hikes.