AAP

Palladium slumped more than seven per cent overnight, adding to the previous session's sharp slide, on concerns an economic slowdown could dent demand and as a weak technical picture pushed investors to book profits after a record run.

Australian shares have bounced back with an afternoon rally that lifted every sector.

Congested roads around Perth will benefit from $1.6 billion worth of road and rail projects across Western Australia, as Scott Morrison tries to woo voters in the west.

Australian shares have moved marginally lower, with miners and utilities the only sectors of the market able to eke out gains.

Oil prices slumped overnight after government data showed US crude inventories grew more than expected last week as a Texas chemical spill hampered exports.

Palladium prices plummeted about 7 per cent overnight - the biggest daily percentage drop in more than two years - as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling.

Australian shares have rebounded from a broad slump to close slightly higher for a second day in a row.

ANZ Banking Group chief executive Shayne Elliott says structural issues and internal processes should cop the brunt of the blame for misconduct across the banking sector, and not a few people with bad intentions.

A Western Power contractor has been found largely liable for destruction wrought by a 2014 bushfire in the Perth Hills region that was sparked by a fallen power pole.

Australian shares have dipped as almost all sectors of the market opened in negative territory.

Oil rose nearly two per cent overnight as attention centred on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining US inventories.

Gold retreated overnight from more than three-week highs in the previous session after the US dollar rebounded and risk appetite and bond yields recovered as fears eased about a possible US recession.

Australian shares have closed slightly higher, lifted by utilities and the mining sector even as energy shares and Wesfarmers weighed down the index.

Possibly flammable cladding at four Perth hospitals must be replaced but there is no risk to public safety, the state government says.

Australia's poorest workers will be guaranteed a living wage under a federal Labor government but business groups warn it will put jobs at risk.

Coles will spend up to $150 million over the next four years to double its home delivery capacity after signing a deal to use tech from UK online supermarket Ocado.

Australian shares have defied predictions of an opening rise as the energy and financial sectors dip amid lingering global growth fears.

Oil prices are mixed as concerns about a slowdown in global economic growth lingered, offset by the prospect of tighter US crude supply.

Gold prices have risen to a more than three-week high, helped by a weaker dollar and as worries over global economic growth pushed investors into safe-haven assets.

The Australian stock market has recorded its worst session in 12 weeks amid fears of a worldwide economic slowdown.

National Australia Bank has scrapped a contentious program under which people including gym instructors and hairdressers were paid commissions for loans they pitched to their customers.

Westpac is setting aside a further $260 million for customer remediation, taking its total to $659 million with fees-for-no-service refunds yet to come.

The Australian stock market is on track for its worst session in 12 weeks as the big four banks, the major miners and the energy sector continue to weigh amid a wider slump.

Gold prices are up as weak economic data from the euro zone exacerbates fears of a global slowdown, weighing on risk sentiment and putting bullion on track for its best week in nearly two months.

Oil prices have fallen about two per cent as focus shifts to a lack of progress in US-China trade talks and as grim manufacturing data from Germany and the US reignited fears of a slowdown in the global economy and oil demand.

Australian shares have finished the week with a rally led by the big banks and market heavyweight CSL.

More affordable housing will soon be available to some struggling Australians, with a federal agency offering community housing providers $315 million worth of loans at cheaper-than-average rates.

Worn down by three years of indecision in London, European Union leaders have grudgingly offered the UK more time to ease itself out of the bloc, delaying by several weeks - but not eliminating - the threat of a chaotic British exit.

Australian shares have moved higher as healthcare shares led a broad rally on the last day of the trading week.

Oil fell nearly one per cent overnight but held near 2019 highs, supported by a tightening of global stocks, OPEC production cuts and US sanctions on key producers Iran and Venezuela.

Gold prices dipped overnight in volatile trade after hitting three-week highs earlier in the session as a set of better than expected US data lifted the US dollar, while palladium notched a record peak on supply concerns.

An Apple-led tech rally has pushed Wall Street higher as jitters over the Federal Reserve's forecast of an economic slowdown were calmed by upbeat economic data.