AAP

South32 has reported a 37 per cent fall in its third-quarter coking coal production compared to the second quarter, as its continues to focus on keeping down costs at its Illawarra operation.

Woodside Petroleum has posted a four per cent rise in first-quarter revenue, as it earned more for its oil and gas.

The Australian share market has lifted in early trade thanks to a positive start for the heavyweight financial sector and energy stocks.

Crude have prices declined slightly as US government data showed inventories drew down less than an industry report had suggested on Tuesday.

Gold has fallen again, holding near the 2019 lows touched in the previous session, as economic growth data from China assuaged concerns about global growth and drove investors into riskier assets.

US stocks have ended slightly lower as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.

The Australian share market has closed lower, dragged down by the mining giants and health care stocks.

BHP Group, the world's biggest miner, has joined rival Rio Tinto in cutting its forecast for iron ore output after a tropical cyclone, although analysts expect high prices to limit any impact on profits.

Shares in DuluxGroup have soared more than 27 per cent to a record high after its board backed a $3.8 billion acquisition proposal by Japanese paint giant Nippon.

Australia's No.2 independent gas producer Santos Ltd has posted record quarterly production, boosted by its acquisition of Quadrant Energy assets, a day after it announced an '"exciting" gas discovery in the North West Shelf.

The Australian share market has dipped in early trade, with the mining giants more than offsetting a positive open for the financial and energy sectors.

Oil prices rose one per cent overnight as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains.

Gold has dropped one per cent to its lowest level of 2019, as a string of robust economic data boosted demand for riskier assets like equities while bullion was further weighed down by gains in the US dollar.

US stocks have ended slightly higher, with the S&P 500 inching closer to its all-time high following a string of mostly positive earnings, while a drop in healthcare shares limited the advance.

Australian shares have closed higher, with the banking and health care sectors offsetting a dour day for energy and telecom stocks.

Australian petrol prices have hit a five-month high with school holidays underway and families preparing to head off for the Easter long weekend.

Takeover target Lynas Corporation has reported a 32.5 per cent rise in production of rare earths oxides during the quarter, as it fends off a takeover offer from retails-to-chemicals conglomerate Wesfarmers.

Mining giant Rio Tinto has reported a 14 per cent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone which hit its export terminal in Western Australia last month.

The Australian sharemarket has edged lower at the open, dragged lower by energy stocks after a global oil price rally came to a halt.

Oil prices have halted their rally, with both benchmarks down nearly one per cent, after Russia's finance minister said Russia and OPEC may decide to boost production to fight for market share with the United States, where output remains at record highs.

Gold fell to its lowest in more than a week as hopes the United States and China would reach a trade deal lifted appetite for riskier assets even as the dollar retreated.

The Australian sharemarket has started the week flat, with volumes light as many traders took the week off as the Easter school holidays commenced nationwide.

A businessman who orchestrated a $20 million insurance scam that involved burning down the former Western Australian headquarters of Bunnings has been sentenced to more than seven years in prison.

Rio Tinto will invest an extra $US302 million to develop its Resolution copper project in the US state of Arizona, as it looks to expands output to meet the lucrative market for new energy vehicles.

Australian shares are subdued at the dawn of a new trading week, with gains for energy companies and the big banks offset by a flat mining sector and losses for health care stocks.

Oil prices have risen one per cent as involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand.

Gold prices have inched lower, having posted the biggest daily decline in two weeks in the previous session, as the impact of a weak dollar was offset by gains on Wall Street.

Australian shares have closed higher with most sectors gaining amid a broad rally.

A former insurance broker who admitted funnelling almost $200,000 owed to clients into his own bank accounts has been sentenced to two years and nine months imprisonment.

Labor leader Bill Shorten says Department of Treasury costings showing his tax plan will cost an extra $38.7 billion a year for the next decade are wrong.

The consumer watchdog says price compare website iSelect misled customers for two years by recommending energy retailers that paid it higher commissions.

Australian shares have opened higher, with the big four banks bouncing back from losses of the previous day.