AAP

Westpac shares jumped after the bank reported a flat full-year cash profit of $7.82 billion.

The Australian share market has opened more than half a per cent higher.

Oil futures have fallen by their biggest weekly percentage decline since January of around nine per cent as signs of tensions resurface between Saudi Arabia and Iran that could scupper a key supply cut pact.

The Australian dollar has slightly strengthened against its US counterpart, despite a steady US jobs report that has reinforced the likelihood of a Federal Reserve rate rise.

Gold has steadied, heading for its biggest weekly rise since mid-September as jitters over next week's US election offset a solid payrolls report that shored up expectations for a US interest rate rise in December.

Mitch Marsh's spot in the Test squad is hanging by a thread following his latest failure with the bat, as Australia was all out for 244 by 3pm.

Mining explosives maker Orica has flagged a cautious outlook for the 2017 financial year despite swinging to a full-year profit on the back of sharp spending cuts and improving commodities prices.

Big falls across the financial and energy sectors pushed the share market to its lowest level in more than four months, amid mounting uncertainty of the outcome of next week's US presidential election.

Australian shares have opened lower following weak leads from overseas, with financial and energy stocks pulling the market into the red.

The S&P 500 fell for an eighth straight session on Thursday, its longest losing streak since the 2008 financial crisis, as Facebook shares weighed and investors grappled with uncertainty over next week's US presidential election.

The Australian dollar has strengthened further against its US counterpart, helped by increased commodity prices.

Oil prices have settled more than one per cent lower as investors reeled from a record weekly surge in US crude inventories, and remained sceptical about whether OPEC can actually implement its planned output cap.

Gold has edged higher in response to a lower US dollar and also uncertainty about the outcome of a tight US presidential race.

Australian spearhead Mitchell Starc sizzled, while the Marsh brothers snaffled spectacular catches, as South Africa reached 7-176 at tea on day one of the first Test at the WACA.

The possibility of Donald Trump winning the US presidency continues to unnerve investors but bargain-hunters pushed the Australian market to a flat close after a poor start on Thursday.

Celebrity chef Jamie Oliver says he's excited to take on the Australian chain of restaurants that bear his name after the collapse of their previous owner.

The state election next year looks set to be a close one, with two polls this week showing conflicting shifts in popularity among the major parties.

ANZ Banking Group's full-year cash profit dropped 18 per cent to $5.89 billion following a big hit from restructuring charges, and the bank is looking at further streamlining its business.

The Australian share market has opened lower following negative leads from European and US markets overnight and a further drop in oil prices.

The Australian dollar on the back of higher commodity prices as a risk-averse mood about the US presidential election weighs on greenback.

Gold has rallied to a one-month high, as uncertainty over the outcome of the US election knocks stocks and the US dollar lower, but bullion pared gains slightly after the Federal Reserve held interest rates steady as expected.

Oil prices have tumbled three per cent after a record weekly build in US crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output.

Concerns about the impacts of a win by Republican candidate Donald Trump in the upcoming US election have unnerved investors and pushed Australian shares to a six-week low.

Virgin Australia has joined rival Qantas in announcing a tough start to the year, with soft demand pushing the number two carrier to a first-quarter loss.

The Australian share market has continued its downward momentum in early trade, as it takes cues from declines across US and European markets overnight.

The Australian dollar is trading flat after global risk appetite declined overnight, largely due to jitters ahead of the US election.

Oil has settled lower after hitting one-month lows, ahead of data likely to show a US crude inventory build and on renewed doubts about whether OPEC will follow through with proposed output cuts.

Gold, silver and platinum have rallied to one-month highs as concerns over the outcome of the US election sparks losses in stocks and the US dollar, prompting investors to seek out precious metals as a haven from risk.

The Australian share market has closed lower as cautious investors await the US Federal Reserve's decision on interest rates later this week and the result of the US presidential election on November 8.

A protest group has been ordered to pay the legal costs of its Supreme Court action against the contentious Roe 8 highway extension project.

The Reserve Bank of Australia has held its benchmark interest rate at 1.5 per cent, saying the current rate is right to meet its forecasts for sustainable growth and inflation.

North Fremantle-based Carnegie Wave Energy plans to change its name to Carnegie Clean Energy after its $13 million acquisition of solar and battery microgrid developer Energy Made Clean.