The somewhat rarefied sector of trusts and fiduciary services caught investors’ interest after JTC, which has its headquarters in Jersey, made a $110 million bid to buy FFP, a rival based in the Cayman Islands.
Analysts at Stifel believe that the purchase of FFP would offer significant cross-selling opportunities for JTC and boost profits, sending its shares up 56p, or 6.2 per cent, to close at a record 955p.
The FTSE 100 also ended the day on a positive note, up 13.82 points, or 0.2 per cent, to 8,205.11 after the City welcomed news that inflation fell back to its official target of 2 per cent last month.
Smurfit Kappa topped the blue-chip leaderboard climbing 172p, or 4.8 per cent, to £37.50 after WestRock shareholders
