European stocks were back in positive territory on Wednesday, recovering from a three-day decline amid stronger than expected German consumer confidence and as deal momentum boosted individual stocks led by Imperial Tobacco. Imperial Tobacco lit up the London stock exchange a day after getting the green light from the U.S. Federal Trade Commission for its purchase of four cigarette brands. The FTC okayed the brand sales as a condition for approving Reynolds American Inc.’s $27 billion merger with Lorillard Inc. British Airways parent IAG was also up after securing Irish government approval for its bid for Aer Lingus Holdings Ltc. And in Milan, leading Italian insurer Assicurazioni rose on plans to raise dividends and cash flow by 2018, as it embarks on a strategy to become Europe’s retail insurance leader.
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