AAP

Oil prices were steady overnight, weighed by concerns about a global economic slowdown that could dent crude demand but supported by expectations that OPEC and its allies will extend their supply curbs.

Gold prices dipped slightly overnight as investors booked profits following robust gains over the past weeks while rising hopes of a trade deal between China and the United States lifted equities.

The Australian share market has closed at a fresh 11-and-a-half year high as a broad rally boosted most sectors by more than one per cent.

Shell has shipped the long-awaited first cargo of liquefied natural gas from its massive Prelude floating LNG plant off north-west Australia, sealing the nation's position as the world's top exporter of the fuel.

Anthony Albanese is moving to expel John Setka from the Labor Party, after the controversial union official criticised anti-domestic violence campaigner Rosie Batty.

AGL Energy has announced a new $3.02 billion offer for telco Vocus less than a week after Swedish private equity firm EQT Infrastructure scrapped its own takeover bid for the Sydney-based company.

The Australian share market has opened higher as a broad rally lifted most sectors by more than one per cent.

Oil prices fell more than one per cent overnight as US-China trade tensions continued to threaten demand for crude and as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal.

Gold prices dropped more than one per cent overnight, slipping from a 14-month peak, after US President Donald Trump's decision not to impose trade tariffs on Mexico spurred risk sentiment and lifted the US dollar from recent lows.

Australian financial markets are waiting to see if a purported jump in confidence on the back of the federal coalition's election win is reflected in key jobs, consumer and business data due this w

Pauline Hanson has declared she will not support the coalition government's tax cuts when federal parliament returns next month.

The Australian share market has finished the first week of June with a broad rally, the local bourse's fourth straight day of gains.

The Australian share market has opened higher, mirroring gains on Wall Street.

Oil prices jumped more than two per cent overnight, reversing course after falling to near five-month lows in the previous session following a report that the United States could postpone tariffs on Mexico.

Gold prices rose overnight as fears about the impact of trade wars on the global economy and rising expectations for a US interest rate cut enhanced the metal's appeal.

The Australian share market has finished higher despite losses in the heavyweight mining sector.

Santos and Carnarvon Petroleum say they have confirmed the discovery of a major oil and gas resource off the coast of Western Australia.

The Australian share market has opened higher after a positive lead from Wall Street.

Oil prices fell overnight, with West Texas Intermediate crude futures (WTI) dropping to its lowest since January after US crude inventories unexpectedly surged, adding to concerns about slowing global growth.

Gold prices pared earlier gains overnight, having jumped to their highest in 15 weeks as nagging fears about global trade and expectations of a US interest rate cut encouraged investors to flock toward bullion.

The Australian share market rallied early in the day following strong gains on Wall Street, but then faded throughout the day.

Vocus Group shares have dropped more than 15 per cent after Swedish private equity firm EQT Infrastructure withdrew its $3.3 billion buyout offer.

The Australian share market has opened higher, mirroring a rally on Wall Street overnight.

Gold steadied below a three-month peak on Tuesday on news China was open to negotiating its trade dispute with the United States, while rising expectations the US Federal Reserve will cut interest rates provided underlying support.

Oil prices ended as much as one per cent higher overnight after a global stock market rally pulled Brent crude from a four-month low touched earlier in the session.

The Reserve Bank's decision to cut rates has lifted the Australian share market following Monday's 76-point loss.

Telstra will reduce the number of contractors it employees by about 10,000 over the next two years as it tries to cut costs, chief executive Andrew Penn says.

The US Transportation Department says it has granted tentative approval to American Airlines Group and Qantas Airways to operate a joint venture, after a prior effort was rejected by the US government in 2016.

The Australian share market has opened higher ahead of the Reserve Bank's monthly board meeting, boosted by strong early gains by the major miners.

Gold climbed more than 1.5 per cent overnight to its highest level in more than three months on concerns that US-Chinese trade tensions and the US threat of tariffs on Mexico would hurt the global economy.

Oil fell overnight as US trade disputes with Mexico and China deepened concerns about weakening global crude demand, while a slump in equities also weighed on crude futures.

The Australian share market has closed flat but finished May up a percentage point during a month when other markets around the world lost ground.