Aviva shares soar amid Axa bid rumours

Its shares were running 15.9p higher at 393.8p at 2.10pm, which is a 4.21% rise over the day so far. By 11.46am they had gained 3.8% and 7.8 million Aviva shares had changed hands, against a 90-day daily average of 13.9 million, according to the London Stock Exchange. The Axa rumours follow the rejection of a £5bn bid for Aviva's general insurance business from RSA last week. Aviva said on Monday it rejected the bid from its smaller rival because the offer undervalued the business and would have resulted in a less efficient capital position. Chairman of Aviva Lord Sharman said t...