AAP

Oil has fallen as investors prepare for an extra one million barrels per day (bpd) of oil to hit markets after OPEC agreed to raise production and as US equity markets slipped on trade war fears.

The Australian dollar has fallen against the US dollar amid a drop in oil prices with a looming lift in crude output and a worsening of the trade war between China and the US.

Gold is hovering near last week's six-month low as investors flock to US Treasuries rather than bullion, amid concerns over a global trade war ratcheting higher after a report said the United States plans to bar Chinese companies from investing in its technology firms.

The Australian share market has lost ground on Monday after losses in the finance sector following Commonwealth Bank's announcement it will spin off its wealth management business.

Metcash shares have rallied after the supermarkets wholesaler announced a $125 million share buyback alongside an impairment-driven full-year loss of $149.5 million.

Commonwealth Bank will demerge and list its wealth management and mortgage broking businesses, with its CommInsure insurance unit possibly next on the chopping block.

The Australian share market is broadly flat in early trade as strong gains across energy and resource stocks are offset by the heavyweight financial and healthcare sectors.

Gold prices rose from six-month lows on Friday as the dollar slipped, but the modest nature of the recovery suggested speculators might still be poised to pu

The Australian dollar is back on the ascendancy after its US counterpart weakens, pressured by a rebound in commodity-linked currencies.

Oil prices have soared after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand.

The Perth-based company behind the disastrous Awassi Express sheep shipment to the Middle East has had its live export licence suspended by the federal government.

The Australian share market is still hovering around a decade-high despite a slight retreat on Friday after a week of strong gains.

Busselton has been shortlisted with nine other regional cities nationwide as the potential home for the new Qantas pilot academy, weeks after the environmental watchdog recommended conditional approval for the operations of a $70 million upgrade at the Busselton-Margaret River Airport.

The Australian share market has opened virtually unchanged despite almost all major global bourses closing lower in the offshore trading session.

The Australian dollar has gained some ground against its US counterpart which sharply reversed lower overnight following jumps in the sterling and the euro and following the release of weaker than expected business growth figures.

Global benchmark Brent crude has fallen more than two per cent ahead of a meeting of the Organisation of the Petroleum Exporting Countries, where producers were expected to boost output to stabilise prices.

US stocks have fallen at the open, weighed down by declines in Amazon after the US Supreme Court let states force online retailers to collect sales tax.

The Australian share market is at its highest level in more than 10 years, with significant gains across most sectors as investors looked past fears of a looming trade war between the US and China.

BP Australia has backed out of a deal with Woolworths to buy its petrol business more than six months after the consumer watchdog rejected the deal.

Atlas Iron's board has backed a takeover bid by billionaire Gina Rinehart after rival bidder Mineral Resources pulled out of contention.

Australian shares are notably higher in early trade, buoyed by broad-based gains after virtually all major global bourses closed with good gains in the offshore session.

The Australian dollar has continued its slide against a steady US dollar that is hovering near an 11-month peak against a basket of major currencies as China's signal of tolerance of a stronger yuan offset anxiety about the global trade conflict.

Technology and media stocks pushed Wall Street higher on Wednesday and helped the Nasdaq hit a record high, as markets eyed a recovery after being battered by a rapidly escalating China-US trade tensions.

Gold prices have dropped, remaining near a six-month low, as the US dollar has hovered around 11 month peaks but was offset by festering global trade tensions, while platinum hit a 2-1/2-year trough.

The Australian share market is at its highest level in more than 10 years as the major banks soared, while Telstra plunged after announcing major job cuts and asset sales.

Telstra is axing 8,000 jobs over the next three years as it tries to save $1 billion while tackling the cost of investing in new technology and increased competition from its rivals.

Australian shares have opened higher despite falls in commodity prices and weakness on overseas markets amid escalating trade tensions between China and the US.

The Australian dollar has retraced some of the ground it has lost against its major currency peers regaining almost a fifth of a cent against the US dollar.

Gold has fallen to a near six-month low and platinum has hit its lowest since February 2016 as a stronger greenback is overwhelmed by safe-haven buying, spurred by fears of a trade war between the world's two top economies.

Oil has fallen ahead of a possible increase in OPEC crude supply, and as an escalating trade dispute between the United States and China unleashed sharp selloffs in many global markets.

The Australian share market edged lower as the mining heavyweights were hit by falls in iron ore prices, while the Australian dollar hit a one-year low.

JPMorgan Australia chairman Robert Priestley has quit the ASX and Future Fund boards as a criminal case progresses against ANZ bank over a capital raising underwritten by the investment bank.