The Australian share market has bounced back from its sharp morning losses as it become apparent that an Iranian missile attack on US forces in Iraq had not caused casualties.
Caltex Australia says it has been approached by a number of parties about a potential acquisition, but so far the only formal takeover offer it has received is the one made in November by a Canadian retail chain.
Oil prices fell almost one per cent overnight, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed an Iranian military commander last week.
Gold prices inched higher overnight, having earlier retreated from the previous session's almost seven-year high as fears of a larger Middle East conflict following the US killing of a top Iranian general eased.
Insurers have promised to act quickly on claims made by bushfire victims, with companies told to prioritise local tradespeople when they start paying out for rebuilds.
The Australian share market has enjoyed its best day in three weeks, with every sector gaining as weak economic data was seen to boost the odds of a February cash rate cut.
PharmAust subsidiary Epichem has significantly revised its forecast revenue following the announcement one of its major customers would end its contract with the company next month.
Oil prices have edged higher, after Brent rose above $US70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions after a US air strike killed an Iranian military commander.
The ASX has bounced back from its early losses to close slightly higher, powered by strong gains by goldminers and oil producers as both commodities moved higher amid tension in the Middle East.
New vehicle sales in Western Australia fell 2 per cent last month and 5.4 per cent during 2019, with national sales crashing to their lowest since 2011.
Tourism Minister Paul Papalia announced a series of marketing campaigns with tourism operators in Germany, Switzerland and the UK in December as part of the state government's $12 million marketing campaign targeting European tourists.
Copper and most other industrial metals fell as the killing of a top Iranian commander by the United States sent shockwaves through markets, pushing oil prices sharply higher.
Oil prices have jumped to their highest level in more than three months after the United States killed a top Iranian military commander in Iraq, sparking fears that escalating conflict in the region could disrupt global oil supplies.
The Australian share market lost an early lead from Wall Street to make it consecutive days in the red, but still had its best week in three after a strong start to the pre-Christmas week.
MG Corporation has signed a memorandum of understanding with Cubbie Farming to investigate the feasibility of growing cotton in the East Kimberley region.
Former federal MP Dennis Jensen has been awarded $325,000 in damages by the Supreme Court of Western Australia following the outcome of a defamation case against The Australian for articles it published in 2016.
Max Johnston has been appointed chair of AusCann Group Holdings, succeeding Cheryl Edwardes, who had served in the role on an interim basis since earlier this year.
WA-raised tech startup Humm has raised US$2.6 million (AU$3.7 million) from US-based investors, to further aid in the commercialisation of its wearable Edge headband technology.
Southern Cross Electrical Engineering has been awarded $100 million in contracts, including works with Talison Lithium, Energy Resources and MARBL Lithium.
CPB Contractors has been selected to deliver key works at Rio Tinto's Robe Valley projects, including various earthworks, civil works, bridges, pits and water supply infrastructure.
Gold prices held firm overnight as investors awaited further developments on US-Chinese trade while political uncertainty in Washington DC failed to move markets across the board.
Oil prices hovered near the highest in three months in thin pre-Christmas trading overnight, buoyed by the previous day's news that US crude inventories declined and as US-China trade tensions continued to ease.
