AAP

The Australian share market has opened flat with early losses for the energy and mining sectors.

Oil futures were mostly steady overnight as price support from a larger-than-expected decline in US crude inventories was countered by a lull in equities.

Gold prices climbed overnight after the US Federal Reserve signalled interest rate cuts were possible later this year as it responded to increased economic uncertainty and tepid inflation.

The Australian share market has surged by more than a percentage point to hit another 11-year high amid indications Chinese-US trade tensions could be easing.

CSIRO has licensed a nontoxic gold mining technique to a Perth company it says could double production for smaller gold producers.

The federal government has ruled out bringing the next sitting of parliament forward a week to legislate its promised tax cuts by the end of this financial year.

The Australian share market has opened higher after a positive lead from overseas following indications of easing Chinese-US trade tensions.

Oil prices rose more than $US1 a barrel overnight after news that China and the United States were resuming trade talks ahead of a meeting at the G20 summit later this month, spurring hopes that the two countries would resolve an ongoing trade conflict.

Gold prices pared gains overnight after US President Donald Trump confirmed he would meet with Chinese President Xi Jinping at an international summit, fanning hopes for a quick end to the US-China trade dispute.

The Australian share market has closed broadly higher following the release of board meeting minutes indicating the Reserve Bank is likely to cut interest rates again in the months ahead.

The Australian share market is higher at midday, with most sectors except telecom industrials posting gains.

Coles shares have hit a new high after the supermarket announced a $1 billion cumulative savings target over four years to compete with new discount grocery market arrivals such as Lidl and Kaufland.

Oil prices fell more than one per cent overnight after more poor Chinese economic figures fanned fears of lower worldwide oil demand.

Gold prices slipped further overnight after sliding from a more-than-14-month high the previous session on upbeat US economic data that dampened expectations the Federal Reserve could ease interest rates.

The Australian share market has given up its early gains to close lower, dragged down by the big miners and the telecommunications sector.

Vocus Group shares have lost nearly a third of their value after AGL Energy abandoned a $3.02 billion takeover proposal less than a week after making a second offer for the internet provider.

Oil rose about one per cent on Friday after attacks on two tankers in the Gulf of Oman last week raised concerns about potential supply disruptions but prices remained on track for a weekly loss on fears that trade disputes will dent global oil demand.

Gold prices retreated on Friday as upbeat US retail sales somewhat eased fears that the economy was slowing down in the second quarter.

The Australian share market has edged higher and hit another 11-and-a-half year peak in the process.

The Australian share market has opened flat as gains in the energy and mining sectors were cancelled out by a slide in financials.

Oil prices settled 2.2 per cent higher overnight after attacks on two tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.

Gold prices climbed to a week's high overnight, supported by expectations for an interest rate cut by the US Federal Reserve following soft inflation data although an uptick in equities capped gains.

The Australian share market has treaded water for a second straight day as both energy and tech stocks dipped while health care shares rebounded.

Western Australia was the only state in the country to record both a decrease in employment numbers and an increase in its seasonally adjusted unemployment rate for May.

Adani has declared it's full steam ahead for its controversial coal mine after the Queensland government issued the final approval the company needs to begin construction.

Wesfarmers says full-year earnings from its department stores could fall by as much as $103 million after sales at the struggling Target chain fell by 2.3 per cent so far in the second half.

Three companies have been charged over serious injuries suffered by two workers during the redevelopment of Campbell Barracks in Perth.

The ACCC is examining whether a proposed takeover of Ruralco Holdings by a Canadian fertiliser giant could reduce wholesale competition and lead to discrimination against some independent retail stores.

Oil prices tumbled 4 per cent overnight to their lowest settlements in nearly five months, weakened by another unexpected rise in US crude stockpiles and by a dimming outlook for global oil demand.

Gold prices gained momentum overnight as the US dollar dipped on speculation about the US central bank cutting interest rates this year amid global economic growth concerns.

The Australian share market has closed flat as the heavyweight mining and finance sectors pulled in opposite directions.

The Australian share market has opened higher as the heavyweight mining sector rises on robust iron ore prices.