European shares fall as Air Liquide loses steam

miércoles 18 de noviembre de 2015 05:15 GYT
 

* FTSEurofirst 300 and Euro STOXX 50 fall back

* Air Liquide down after announcing Airgas deal

* Global security still in spotlight after Paris attacks

By Sudip Kar-Gupta

LONDON, Nov 18 (Reuters) - European shares fell on Wednesday, retreating from solid gains made in the previous session, with industrial gas company Air Liquide slipping after announcing an expensive-looking acquisition.

There appeared to be limited market reaction to news that French authorities had killed two suspects after last week's attacks in Paris, which killed more than 120 people. Some European travel and leisure stocks lost ground but they were in line with the overall European market.

The pan-European FTSEurofirst 300 index, which rose 2.6 percent in the previous session, fell 0.6 percent while the euro zone's blue-chip Euro STOXX 50 index declined by 0.8 percent.

Air Liquide dropped 4.9 percent after the company announced a $13.4 billion deal to buy U.S. peer Airgas.

In a research note, UBS kept a "sell" rating on Air Liquide's shares and described the Airgas deal as "pricey", with Air Liquide's offer price representing a premium of 50.6 percent to Airgas's one-month average share price.   Continuación...