Market Wrap: ASX jumps as Santos Ltd ROARS back to life

The local stock market recouped all of its earlier losses to end the day in the black.

Here's a quick recap:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.3% to 5263 points
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.2% to 5299 points
• AUD/USD at US 72 cents
• Iron Ore at US$52.79 a tonne, according to the Metal Bulletin
• Gold at US$1,166.14 an ounce
• Brent oil at US$48.09 a barrel

Weak commodity prices were back on investors' minds today, acting as a weight on parts of the resources sector. BHP Billiton Limited (ASX: BHP) shed 0.5%, while Newcrest Mining Limited (ASX: NCM) and EVOLUTION FPO (ASX: EVN) lost 3.9% and 4.6%.

Where the iron ore and gold miners fell short however, the energy producers provided plenty of support.

Santos Ltd (ASX: STO) was the market's top performing stock, lifting 16.2%. Senex Energy Ltd (ASX: SXY) and Origin Energy Ltd (ASX: ORG) also gained 8.6% and 5.7%.

The banks were also on top for the day. Westpac Banking Corp (ASX: WBC) rose 0.9% and Commonwealth Bank of Australia (ASX: CBA) came in a close second, rising 0.8%.

Transfield Services Limited (ASX: TSE) fell the hardest for the day, losing 8.3%.

Here are Thursday's top stories:

1. Santos Ltd's share price soars on news of takeover offer
2. Here's why Sky Network Television Limited's share price is getting hammered
3. Wesfarmers Ltd shares lift on promising quarterly update
4. Australian house prices are tumbling and here's the evidence
5. 4 dividend stocks that are a better alternative to the Big 4 banks
6. Is there any value to be found in Domino's Pizza Enterprises Ltd., Treasury Wine Estates Ltd and Reject Shop Ltd?