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Nov 16 (Reuters) - Australian shares ended 0.3 percent higher on Thursday, drawing strength from Santos Ltd which spiked to its highest in more than a year after turning down a takeover bid, prompting speculation of a new offer.
The S&P/ASX 200 index .AXJO gained 0.2 percent or 9.265 points to 5943.5, snapping four straight losing sessions. The benchmark dropped 0.6 percent on Tuesday.
Santos Ltd STO.AX , Australia's third-largest independent gas producer, said it had rejected a A$9.5 billion takeover approach from Pennsylvania-based Harbour Energy in August, deeming the offer inadequate. shares ended 13 percent higher.
Financial stocks also gained with three of the "Big Four" banks up between 0.1 percent and 0.6 percent. Westpac Banking Corp WBC.AX shed 0.3 percent, its fourth falling session.
The New Zealand central bank on Wednesday ordered Westpac's New Zealand unit to boost capital levels after Westpac failed to meet capital adequacy requirements. Bank of Australia CBA.AX easily overcame protest votes against executive remuneration and board appointments at an annual general meeting. employment rose for a 13th straight month in October, the longest stretch of gains since the early 1990s, with the jobless rate dipping to its lowest in more than 4 1/2 years. Zealand's benchmark S&P/NZX 50 index .NZ50 gained 0.4 percent, or 34.76 points, to 8034.7 with consumer staples and utilities stocks leading the rise.
Dairy company a2 Milk ATM.NZ was the biggest boost to the index, ending up 2.1 percent while generator Contact Energy Ltd CEN.NZ rose 2 percent.