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Shares close 9pts higher

The Australian share market has ended in positive territory, despite a tumultuous day for the major banks after fresh talk of state government imposed levies.

SA bank levy attractive: Wyatt

State Treasurer Ben Wyatt says the South Australian government's controversial bank levy is an attractive option and he'll watch with interest ahead of delivering his own budget in September.

NAB hikes interest-only mortgage rates

National Australia Bank has followed its peers by raising its variable rates for interest-only mortgages in a bid to slow down riskier lending.

Shares open 4pts higher

The Australian share market has edged fractionally higher as gains by most of the big mining and energy stocks, CSL and Telstra outweigh weakness among most of the major banks.

$A again slides against $US

The Australian dollar is lower against its US counterpart which has remained steady in the offshore session.

Oil bounces off 10-month lows

Oil has risen, a day after hitting 10-month lows, but market sentiment remains negative because the global crude glut has persisted despite OPEC-led output cuts.

Gold extends rebound above 5-week low

Gold has risen, lifting quietly above the prior session's five-week low as the US dollar steadied and the 200-day moving average provided short-term support below the market.

Dental dominates extras claims at Medibank

Dental services account for almost half of the extras claims made by customers of private health insurance giant Medibank, at more than $500 million, latest figures show.

Shares close 40pts higher

The share market has regained some of Wednesday's big losses as banks, energy producers and miners all posted gains.

Iluka flags impairment, mining restart

Perth-based Iluka Resources plans to put its Hamilton mineral separation plant in Victoria on care-and-maintenance status, resulting in a $150 million pre-tax impairment charge in its half-year accounts.

Shares open 29pts higher

The Australian share market has opened higher, on the tail of its worst session of 2017 in which about $29 billion was wiped from its value. 

$A is down against $US

The Australian dollar has extended losses against its US counterpart, despite the greenback's underperformance, as the price of oil falls another two per cent.

Oil in biggest first-half slide in 20 yrs

Oil prices have ended down more than two per cent, hitting a 10-month low in volatile trade, as growing US production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut.

Gold up as oil plunge hits stock markets

Gold has rebounded from a five-week low as an oil price slump pushes down stock markets and a weaker US dollar makes bullion cheaper for holders of other currencies.

Share market posts biggest fall of 2017

About $29 billion has been wiped from the share market's value in its worst session of 2017, as lower oil prices and a souring outlook for commodities hit energy and mining stocks, and the negative sentiment infected the big banks.

Call for six-month Scaffidi suspension

Perth Lord Mayor Lisa Scaffidi has not demonstrated any insight into her wrongdoing or indicated she won't fail to disclose gifts again, the State Administrative Tribunal has heard.

Hunt appointed as AGL chairman

AGL Energy has appointed non-executive director Graeme Hunt to take over as chairman when Jerry Maycock retires.

Shares open 82pts lower

The Australian share market has slipped in early trade, taking the lead from a decline on Wall Street after a sharp drop in energy prices.

$A is down against $US

The Australian dollar is sharply down against its US counterpart as the greenback lifts against most currencies, except the yen and the kiwi dollar, in a lively session.

US crude at 9-month low on global glut

Oil prices have fallen two per cent per cent, with Brent settling at seven-month lows and US crude at its cheapest level since September, after increased supply from several key producers overshadowed high compliance by OPEC and non-OPEC oil producers with a deal to cut global output.

Gold edges down to 5-week low on $US rally

Gold has inched down to a five-week low as the US dollar lifts following hawkish comments from an influential US Federal Reserve official and dovish remarks from the Bank of England governor.

Shares close 47pts lower

The stock market has closed 0.8 per cent, or 47.9 points, lower at 5,757.3.

Moody's downgrade sinks bank shares

The ASX closed 47 points lower after shares in Australia's big four banks were hit by a long-term credit ratings cut by Moody's, due to risks associated with the local housing market.

$11bn Tabcorp-Tatts merger to go ahead

The Australian Competition Tribunal has waved through the proposed $11 billion merger between gaming rivals Tabcorp and Tatts Group.

Shares open 17pts lower

The Australian share market has opened in the red despite strong gains on Wall Street overnight where the Dow and the S&P 500 closed at new record highs. 

$A sharply down against $US

The Australian dollar is down sharply against the greenback, falling back below 75 US cents, as the US dollar gains after an influential Federal Reserve official expressed confidence that rising wages would help revive domestic inflation.

Oil falls 1% to 7-month low on glut fears

Oil prices have fallen about one per cent to a seven-month low as market players see more signs that rising crude production in the United States, Libya and Nigeria have undercut OPEC-led efforts to support the market with output curbs.

Gold falls to near 5-wk low on firmer $US

Gold has fallen to a near five-week low as the US dollar rises after hawkish comments from a top Fed official, but uncertainty created by the start of talks on the terms of Britain's departure from the European Union prevented deeper losses.

Shares close 31pts higher

The Australian share market has lifted as the major banks made gains but investors dumped retail stocks as a major acquisition by internet giant in the US ignited fears for the future of local bricks-and-mortar retailers.

Fairfax shuns Macquarie Media stake offer

Fairfax Media has rebuffed an approach from a consortium including advertising entrepreneur John Singleton for its 54.5 per cent stake in Macquarie Media.

Shares open 1.2pts lower

The Australian share market has opened flat following a mixed close at Wall Street overnight where shares were hit after disappointing US consumer sentiment and housing data.



Grocery prices are crazy: Coles boss

Australia's food and grocery prices have to come down further because they are "crazy" compared to the rest of the world, Coles managing director John Durkan says.

Plastic bags banned by WA local councils

Plastic bags are being shunned by councils in Western Australia, which are making the most of Premier Mark McGowan's support for local governments to ban the bag. 

COAG rejects McGowan's GST change ideas

State premiers have rejected reform measures to the GST carve-up put forward by Mark McGowan, who is lobbying for Western Australia to get a fairer share of the tax's revenue.

Quest penalised for sham contracting

The former operators of Quest serviced apartments in South Perth have been fined almost $59,000 for a sham contracting arrangement designed to bypass industrial relations laws.

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Plastic bags banned by WA local councils

Plastic bags are being shunned by councils in Western Australia, which are making the most of Premier Mark McGowan's support for local governments to ban the bag.