Hiscox Rallies After Bid Chatter, All Eyes on Monday
Hiscox Ltd stock started the week with a takeover premium priced in after jumping on Friday. Shares finished at 1,841p, up 202p, or 12.32%. The move followed reports Canada’s Intact Financial Corp is looking at a bid. The five-day gain landed at 13.36%, according to MarketScreener. Hiscox traded higher even as broader London shares came under pressure. Reuters data had the FTSE 100 off 1.71% on Friday, and UK stocks dropped with investors fretting about political uncertainty, the bond market, and rising oil.