Market Wrap / Santos slump

The Australian sharemarket took a tumble during Thursday's trade, with energy stocks leading the declines after a consortium led by Abu Dhabi's National Oil Company walked away from a multi-billion dollar bid for Santos.The S&P/ASX 200 Index closed lower by 0.83% to 8,745.2 points, with the energy sector down 5.6%. Santos shed 11.9%, also hurt by a broker downgrade from Jarden.The scuppered takeover deal came at the same time the Albanese government set its 2035 emissions targets; aiming to cut carbon emissions by a lower than expected 62-70% from 2005 levels by 2035. The Aussie dollar fell to US66.37c as the number of jobs created in August fell, however the unemployment rate remained at 4.2%, meaning the outlook for rate cuts remains largley unchanged.In other corporate news, South32 fell as it traded ex-dividend. Macquarie Group eased by 0.1% amid reports it has held takeover talks with Carlyle Group which have since fizzled out.Endeavour rose 0.6% on news Woolworths executive Jeanette Fenske will head its BWS liquor chain. Meanwhile, Myer fell 2.3% as Morgan Stanley cut its price target ahead of tomorrow's expected earnings.FedEx reports in the US tonight, while elsewhere the Bank of England hands down its monetary policy decision.