AAP

Australia's current account surplus widened to a larger than expected $7.855 billion in the September quarter despite a drought-related decline in export of rural goods.

Caltex Australia says the $8.6 billion unsolicited takeover offer from Canadian convenience store operator Alimentation Couche-Tard undervalues the company.

Santos has upgraded its 2025 production outlook to 120 million barrels of oil equivalent from 100 mmboe, indicating a cumulative annual growth rate of more than eight per cent.

Metcash has announced a $237.4 million write-down against its major food division just days after revealing 7-Eleven would not be renewing its $800 million supply contract.

The Australian share market has dropped sharply lower amid renewed fears over global trade uncertainty and ahead of the central bank's decision on monetary policy.

Oil futures gained about 1.0 per cent ovenright on hints the Organisation of the Petroleum Exporting Countries (OPEC) and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand.

Gold steadied overnight after paring losses as weak US manufacturing data rekindled worries about a slowing economy while palladium exceeded $US1,860 per ounce in its week-long surge to new all-time highs on a supply crunch.

The Australian share market has set a fresh all-time closing peak but narrowly missed eclipsing its all-time intraday high set on Friday.

Police investigating Western Australia's biggest public sector theft have charged a third person over the alleged corruption.

Nickel hit its lowest point in more than four months on Friday and posted its steepest monthly loss in eight years on faltering steel output from top producer China and waning impact from an Indonesian ore export ban.

Woolworths has been slapped with an employee class action that alleges its underpayment scandal is far worse than the current $300 million estimate.

The Federal Court has ordered Optus to pay $6.4 million in penalties for falsely telling customers of rival broadband services their home internet would soon be disconnected.

The Australian share market has moved higher, shrugging off a negative lead from overseas at the end of last week.

Gold prices gained on Friday as markets awaited further developments on US-China trade talks after officials in Beijing said they would retaliate against the US for passing a law in support of Hong Kong protesters.

Oil prices fell on Friday, with US crude dropping more than 4.0 per cent, on fresh trade tensions and record high US crude production but they still ended the month higher as OPEC watchers expect an extension next week to a pact to throttle oil output beyond March.

The Australian share market has pulled back after hitting a new intra-day all-time high earlier in the day, as markets turned cautious on fears a new US law backing Hong Kong protesters could sink a US-China trade deal.

As Australia prepares for a UN climate summit in Spain, a new report shows annual greenhouse gas emissions have dipped slightly, mainly due to more renewable energy use and the impact of the drought.

The Australian share market remains in positive territory after having reached a new high for the second day in a row.

Oil prices have fallen for a second consecutive day overnight after US President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China.

Gold traded in a narrow $US5 range overnight as investors gauged the impact of US backing of Hong Kong protesters on its trade negotiations with China while palladium scaled a record peak on a sustained supply crunch.

The Australian share market hit a fresh intraday all-time high in early trading as fears about global growth and trade fade into the background.

About 27,000 casual school workers including cleaners and gardeners will be compensated after being underpaid by Western Australia's Department of Education.

The Westpac money-laundering scandal will be front of mind when the banking watchdog faces another grilling from federal politicians next week.

Westpac is allowing investors to withdraw from a $500 million share purchase plan it launched two weeks before a money laundering and child exploitation scandal hit the lender's share price.

The Australian share market has spent the morning session setting fresh all-time highs, mirroring gains on Wall Street overnight.

Oil eased overnight after a report showing US crude inventories grew unexpectedly last week and gasoline stocks surged but losses were limited by optimism that a US-China trade deal would be reached soon.

Gold fell overnight as equities climbed to record levels bolstered by hopes that the United States and China were close to signing an initial trade deal and by the release of robust US economic data.

The Australian share market has closed higher for a fourth day, rallying to eclipse its all-time closing high set on July 30.

New figures suggest the Australian economy is still crawling along at a growth rate below two per cent, but Reserve Bank governor Philip Lowe has made it clear that negative interest rates are "extraordinarily unlikely" in response.

Woolworths chief executive Brad Banducci has given up a potential $2.6 million bonus over the supermarket giant's wage underpayment scandal.

The Australian share market has risen, with every sector advancing after stocks on Wall Street hit record highs.

Oil prices rose overnight after news that US and Chinese officials discussed trade while predictions for a weekly draw on US crude stockpiles lent some support as well.