European Stocks Mixed; Insurer Aviva Finds Friend for Life Through $8.8B Merger

Rebounding energy and resources shares propel U.K. stock indices higher on Tuesday amid a mixed picture across the wider region. Oil producers BP, Royal Dutch Shell and Tullow Oil are among the gainers, as is Petroceltic, which erases some of the losses incurred on Monday when a bidder retreated. In the insurance sector the U.K.’s Friends Life rises as Aviva formalizes an $8.8 billion takeover plan. Not all are convinced of the larger insurer’s rationale but good news on synergies and the prospect of higher dividend payments push the bidder’s shares higher also.