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Santos soars on bid refusal, Fed bets lift emerging currencies

Santos is Australia's third biggest oil and gas firmAustralian energy giant Santos surged more than 20 percent at one point Thursday after rejecting a multi-billion-dollar takeover bid it described as “opportunistic”, giving a lift to other Sydney-listed energy firms. Santos, Australia’s third biggest oil and gas firm, flatly rejected the Aus$7.1 billion ($5.1 billion) bid from merchant bank and investment syndicate Scepter Partners, saying it was not interested. Scepter, which manages money for Asian and Gulf-based royals, offered Aus$6.88 cash for each Santos share, a 26 percent premium on Wednesday’s closing price.

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