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Shares in DUET Group have jumped 16 per cent after the energy utility operator confirmed it has received an indicative and conditional takeover offer from Hong Kong billionaire Li Ka-Shing's Cheung Kong Infrastructure.
Gold edged higher on Friday, climbing for the first time in four sessions as it shrugged off data showing rising US job numbers, with analysts saying that an expected rise in interest rates had already been priced in.
Oil prices rallied for their best week in at least five years on Friday, steadying above $US51 a barrel, following OPEC's decision to cut crude output to rein in a global glut that has weighed on prices for more than two years.
Graincorp's biggest shareholder, Archer Daniels Midland, has sold its 19.9 per cent stake in the Australian grain merchant for about $387 million, three years after its failed $3.4 billion takeover bid.
A sharp decline in technology stocks pulled both the Nasdaq and the S&P 500 indexes into the red on Thursday, while the Dow managed to notch a record closing high with a lift from bank and energy shares.
Gold hit its lowest since February on Thursday, extending losses after its biggest monthly decline in more than three years, as a surge in oil prices boosted bond yields, denting interest in non-yielding gold as an alternative investment.
Oil prices surged 4 per cent on Thursday, with Brent crude at its highest in about 16 months, extending gains after OPEC and Russia agreed to restrict output to reduce the global supply glut more quickly.
Oil has soared more than 10 per cent to over $US50 a barrel and its highest in a month as some of the world's largest producers agree to curb production for the first time since 2008 in a bid to support prices.
Gold has fallen to nearly a 10-month low, adding to its deepest monthly price declines in more than three years as strong US economic data and higher US Treasury yields buoy the US dollar, further cementing the case for a December rate increase.
Oil has slumped four per cent as OPEC's leading oil exporters struggle to agree on a deal to cut production to reduce global oversupply and boost prices, with Iran and Iraq at loggerheads with Saudi Arabia a day ahead of meeting.
A Donald Trump presidency is likely to lift global economic growth and will likely result in improved commodities prices that will benefit Australia, according to economists at Commonwealth Bank of Australia.