JLT stock rises on Marsh bid rumours

Shares in insurance broker Jardine Lloyd Thompson (JLT) were boosted over the £6 mark yesterday after new rumours that the broker was being bid for.

Speculation focused on talk of a £1.7bn (£8 a share) cash bid from US broker Marsh & McLennan, various newspapers reported

However, JLT's share price fell back in afternoon trading yesterday, closing at £5.97. JLT shares are currently trading below the £5.90 mark.

JLT has been the subject of persistent takeover rumours: its stock received a boost in May this year after Aon was strongly linked with a bid for the London-based broker.

However, chief executive Dominic Burke hit out at the rumours in an interview with Insurance Times in July, describing them as "laughable".

Subscriber Exclusive: Why is there fresh JLT takeover speculation?