Oil stocks led London higher on Wednesday as Anglo-Dutch oil producer Royal Dutch Shell embarked on its biggest deal in over a decade. Shell announced an agreement to pay $70 billion in cash and shares for BG Group to gain new deepwater oil and gas operations. The news lifted BG and a host of other energy stocks, while Shell shares retreated. On the mainland, German stocks fell after a report showed that factory orders in Europe’s largest economy showed that factory orders fell unexpectedly in February, and as investors sold shares in carmakers including BMW and Daimler. But in Paris, Renault was struggling for direction after the French government said it would spend up to $1.3 billion to temporarily boost its stake in the automaker.
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