AAP

Gold prices have been pressured by a stronger US dollar and rising interest rates, dropping for a third session, but were underpinned by political worries and uncertainty about this week's huge US bond auctions.

Australian shares have ended the day flat with a no-surprises line-up of company profit results failing to fire investor action in the absence of major overseas leads.

BHP Billiton has increased the expected cost of its South Flank iron ore project to $US3.6 billion ($A4.6 billion), substantially above the estimated range it provided in June 2017 when initial funding was approved.

Shares in Vocus Group have hit a four-month low after the telco held off paying its half-year dividend and downgraded its annual earnings guidance.

Engineering services firm Monadelphous Group has lifted half-year profit by nearly a third as it rides the rebound in resources sector activity.

The director of a Perth security company has been acknowledged for selling personal assets to provide back pay for staff who were underpaid more than $200,000.

Seven West Media's first-half profit has risen to $100.7 million but the broadcaster has temporarily suspended its dividend to focus on managing expenses.

The Australian share market has opened lower in the absence of a lead from US markets, which were shut for a public holiday, leaving local investors with only a negative lead from Europe and Britain.

Gold prices are down slightly as the US dollar claws back some recent losses and stocks rose, but worries about US inflation keep buyers in the metal.

The Australian dollar is slightly lower against its US counterpart which has rebounded off three-year lows.

Oil prices have hit their highest level in nearly two weeks, lifted by a global equity market recovery and tensions in the Middle East, although concerns of rising US production tempered gains.

The Australian share market has closed higher with most sectors posting gains, led by healthcare companies, big banks and industrial stocks.

Australian shares have got off to a tepid start with investors still cautious amid a busy earnings week despite positive momentum in the last few sessions.

The Australian dollar has fallen more than half a US cent against its US counterpart which continues to experience weakness despite bouncing off a three-year low.

Oil prices are higher as a rebound in the global equities market and a weak US dollar supported crude's recovery from last week's slide.

Gold prices have dipped, but still hovered near a three-week high, as the US dollar index bounced from a three-year low and investors worried that US inflation could heat up.

Australian shares fell back in afternoon trade to close lower on Friday despite the impetus of some strong company profit figures and overnight gains on Wall Street.

The head of the Reserve Bank has warned any corporate tax cut in Australia cannot come at the expense of higher budget deficits, adding that recent cuts to business taxes in the US are problematic.

Medibank Private's turnaround strategy is beginning to pay off with the rate of customer declines slowing and company costs narrowing.

The Australian share market has held on to morning gains as investors selectively take positions amid a slew of corporate results.

Oil prices have closed mixed with Brent paring losses and US crude turning positive as a weak US dollar and Saudi Arabia's comments that OPEC and other producers were committed to their pact on cutting supplies outweighed record US production and rising inventories.

Gold was on track for its fourth straight session of gains on Thursday as the US dollar slid to its lowest in two weeks on concerns about the impact of high U.S debt levels and tax cuts.

The Australian dollar is a tad lower against its US counterpart which has continued to weaken.

The share market has posted its best session in seven months due to positive half-year earnings results and strong gains for the miners and the energy producers.

Western Australia's electoral system has become stuck in the past amid outdated legislation and a lack of funding, a parliamentary inquiry into the 2017 state election has found.

Telstra has cut its dividend after the telecommunications provider's first-half profit fell almost 5 per cent to $1.7 billion.

Gold producers Newcrest Mining and Evolution Mining reported lower profits for the first half of the financial year, with Newcrest also disclosing the Telfer mine had a negative cash flow of $9 million for the period.

South32 has lifted its shareholder payout after improving its first-half underlying profit on the back of stronger commodities prices.

Ride-hailing giant Uber's full-year net loss widened to $US4.5 billion in 2017 as the company endured a tumultuous year that included multiple scandals, a lawsuit alleging the theft of trade secrets, and the replacement of its CEO.

The Australian share market is sharply higher in early trade after gains of more than one per cent on US markets overnight and amid a plethora of ASX-listed company results.

The Australian dollar has jumped above 79 US cents with the US currency remaining weak after US inflation figures came in higher than expected.

Oil prices have rebounded after US crude stocks rose less than expected and Saudi Energy Minister Khalid al-Falih said major oil producers would prefer tighter markets than to end supply cuts too early.