The Australian share market has closed marginally lower, with heavyweight healthcare and financial stocks unable to hold on to gains, and ended the week solidly in the red.
The Australian share market has lifted at the open with gains for energy and mining stocks, while the local healthcare sector was also firmly in the black.
Gold hit a near one-week peak as investors sought cover from market turmoil after Britain's long-awaited draft agreement to leave the European Union was thrown into chaos, helping the metal hold its ground against a rising dollar.
il futures have risen, steadying after the week's steep losses as fuel stockpile declines in the United States helped offset concerns about a potentially oversupplied market next year.
A rally in the final hour of trade wiped out heavy afternoon losses on the Australian share market as the ASX narrowly avoided a third straight session in the red.
The state government has approved the use of recycled construction and demolition (C&D) waste as road base for the Kwinana Freeway widening project, seven years after the Barnett government’s attempt to do the same thing foundered.
Wesfarmers shareholders have voted to approve the $20 billion demerger of its supermarket business Coles, 11 years after it acquired the group in Australia’s biggest corporate takeover.
Uranium explorer Vimy Resources has announced a major restructuring, including the resignation of three directors, further cost-cutting and a focus on its base metals project.
Australian shares have eked out modest gains at the open despite an overnight sell-off on Wall Street, with healthcare and mining stocks lifting in early trade, though the banks were weighing on the bourse.
Wall Street stocks have declined, with the S&P 500 notching a fifth straight day of losses as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the US House of Representatives.
Gold rose one per cent overnight, helped by a slight retreat in the dollar following a rally and as some investors covered their short positions after the metal held the key $US1,200 level.
Oil has bounced nearly two per cent, recouping some of the previous session's heavy sell-off, on the growing prospect that the Organisation of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up the market.
The Australian share market has lost more than one and a half per cent for the second consecutive day with commodity-related stocks suffering heavy losses on plunging oil prices.
Energy stocks are sapping the Australian share market in early trade, with the bourse slipping on plunging oil prices and choppy overnight results on Wall Street.
Gold shook off earlier losses to move back above the key $US1,200-per-ounce level, benefiting from a slight retreat in the dollar after a rally driven by the US interest rate outlook and Brexit talks.
Oil's price slide has accelerated, with US futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply.
Broad-based losses to the local indices dragged the Australian share market down following a sell-off on Wall Street overnight and weakening oil prices.
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