The latest ups and downs on the stock market
Shares in broking group Jardine Lloyd Thompson (JLT) have once again been buffeted by takeover talk. This time, Marsh was tipped to be the suitor. Back in May, market rumours had Aon as the potential buyer. The stocks closed at £5.97 on 20 October, the day the rumours surfaced, having broken the £6 barrier during the day. Trading has since been volatile: the stock price started to fall, dipping to £5.79 on 27 October before rising again to £5.92.
Brit has enjoyed a small boost to the £10.40 range from the £10.20 range since agreeing sale terms. The share price has been trading above £10 since original suitor Apollo teamed up with CVC Capital markets, making a deal seem more likely.
Hardy Underwriting has stayed in the £2.90 to £3 range since mid-October following the offer from Beazley. Despite Hardy’s rejection, it seems shareholders still hope for a deal.
Market indices Movers Price 7-day Currency
FTSE 100 5,675.16 Brit 1045.00 2.05% Dollar 1.59
FTSE 250 10,843.50 Hardy 296.00 1% Euro 1.14
FTSE All-share 2,936.15 Beazley 120.70 4.14% Yen 128.87