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Oil prices have risen to their highest in more than two weeks, supported by the shutdown of the El Feel oilfield in Libya and upbeat comments from Saudi Arabia that an OPEC-led effort to cut stockpiles is working.
Commonwealth Bank has denied liability in a shareholder class action alleging it breached continuous disclosure obligations with its handling of an Australian Transaction Reports and Analysis Centre investigation into its compliance with money-laundering and terrorism-funding laws.
The Australian share market has made solid gains after a strong lineup of company earnings results briefly drove stocks above 6,000 points on Friday before closing just shy of the mark and up 1.6 per cent for the week.
Gold has dipped further, a day after its biggest daily slide in two-and-a-half months, but briefly bounced higher as the US dollar slipped for a short time after the release of minutes from the US Federal Reserve's January policy meeting.
Downer EDI has posted an $11.1 million first-half loss, dragged down by a goodwill impairment on its mining operations, write-downs from its freight rail divestment and redundancy costs from its recently acquired Spotless.
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.
A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.
Wesfarmers is overhauling the leadership at its underperforming UK hardware business after the struggling unit was responsible for the majority of $1.3 billion in first-half writedowns and impairments.