AAP

Oil prices edged lower on Monday after producers failed to agree on a plan to curb global supply at a meeting in Qatar, while world stock markets rose and the Dow Jones industrial average closed above 18,000 for the first time since July.

Gold has steadied as the US dollar fell against a basket of major currencies, world stock markets edged higher, and oil prices pared earlier losses that had been triggered by the failure by oil producers to agree an output freeze.

The Australian share market closed lower, hurt by energy, mining and banking companies.

Qantas has been brought back down to earth by a major share sell-off in the wake of the airline's decision to axe plans to add flights.

The state government is making a mistake cutting tourism funding by more than $20 million at a time when it should be boosted to make up for the loss of the mining boom's riches, a national industry group says.

The Australian share market has opened lower.

Saudi Arabia has demanded Iran join a global deal on freezing oil output, jeopardising an agreement between OPEC and non-OPEC producers that was supposed to help ease a glut and prop up the price of crude.

The Australian dollar has plunged sharply as crude oil prices tumble

Gold has risen after three days of declines as the US dollar and major stock markets weakened, but bullion was headed for its first weekly drop in three.

The Australian share market closed higher for a fourth consecutive day, thanks to gains in resource giants BHP Billiton and Woodside Petroleum, plus retailers Wesfarmers and Woolworths.

DEXUS Property Group's $2.5 billion takeover of ASX-listed Investa Office Fund has fallen over after it failed to get enough support from the target's shareholders.

Rio Tinto will supply China's Sinosteel with 70 million tonnes of iron ore over the next five years after extending the companies' joint venture in Western Australia.

The Australian share market has opened slightly higher, thanks to gains in biotechnology group CSL, retailers and some banking stocks.

Wall Street has closed little changed after two days of solid gains as investors digested the latest round of big bank earnings and financial shares kept bouncing back.

The Australian dollar has surged to a nine-month high after the chances of a May rate cut slimmed further.

Strong gains by the big miners and major banks have pushed the Australian share market higher for a third straight session.

The Australian share market has opened higher.

The price of gold has fallen from the previous day's three-week peak as the US dollar surged to a two-week high against the euro, and major stock markets rose after surprisingly upbeat trade data allayed concerns over China's economy.

Wall Street have rallied for a second straight day, led by gains in beaten-down financial shares after JPMorgan's quarterly results.

The Australian dollar has pulled back from recent highs as the greenback finally finds its feet following days of losses.

Higher commodity prices and better than expected Chinese trade figures have fuelled strong gains on the share market.

Fortescue Metals Group says it is running ahead of its production target and may be able to increase its full-year guidance, but has cautioned it may not hit its cash cost target.

The Australian share market has opened nearly one per cent higher.

Global oil prices have hit four-month highs, hovering just under $US45 a barrel after a report that top producers Russia and Saudi Arabia have agreed to freeze output ahead of a much-anticipated producers meeting on Sunday.

Wall Street has closed higher, led by surging energy shares that were buttressed by rising oil prices, as investors scooped up equities at the start of corporate earnings season.

The Australian dollar is soaring towards 77 US cents amid an oil price rally.

The Australian share market has closed higher due to gains among the major banks.

Prime Minister Malcolm Turnbull says he will raise mining contractors' concerns with Rio Tinto over the mining giant's move to double its standard payment terms, while premier Colin Barnett went further, saying its move was not fair or reasonable.

There may have been a breach of corporate duties at Queensland Nickel, according to the company's administrators, which have recommended the Clive Palmer enterprise be liquidated.

The Australian share market has opened flat.

The Australian dollar has broken above 76 US cents as the greenback suffers and commodities strengthen.

Gold prices have risen to their highest in almost three weeks, setting the market on course toward $US1,300 an ounce, drawing confidence from continued ultra-low interest rates.