European markets failed to hold

European markets failed to hold accumulated in previous sessions gains on Wednesday, most indexes in the region fell. Shares of some European companies from the transport and hospitality sectors fell amid anti-terrorist operations in Paris, but in the overall market movements.
The pan-European FTSEurofirst 300 index, which rose 2.6 percent on Tuesday, slid 0.3 percent during trade. The blue chip index in the euro zone Euro STOXX 50 fell 0.6%. Among major national indexes, the German DAX slid 0.1%, the French CAC 40 - 0.6% and the British FTSE 100 remained almost unchanged.
High price
Among the companies the biggest loser was the gas company Air Liquide. Its shares slipped 6.5% after announcing the acquisition of US rival Airgas against 13.4 bln. Dollars. "Investors started selling shares, they were afraid that too much money flowing out of the company's accounts," said Augustine told Reuters Eden, an analyst at Accendo Markets. Experts from bank UBS pointed out that the acquisition is very expensive as the price represents a premium of 50.6 percent above the average quotation of the shares of Airgas last month.
Shares of Air France KLM fell 0.4%, after several flights of airline from the United States were canceled because of threats. European stocks in the sector of transport and tourism fell by an average of 0.6%. Investors are more optimistic for companies with large exposure to the Russian market amid hopes that cooperation between Paris and Moscow will lead to a warming of relations between Russia and the West and the lifting of sanctions. Thanks to shares of trade chain Metro progressed by 3%, while those of the pharmaceutical company Stada rose 2.3 percent.
Mixed results
Tax returnAlmost all companies in the pan-European STOXX 600 index posted its results for the third quarter. About 51% of them responded or surpassed the estimates and the remaining 49% were submitted worse than expected.
Expectations the European Central Bank (ECB) to increase financial incentives led some investors to predict continued growth in European shares. FTSEurofirst index is about 10% higher compared to the beginning of 2015. The conflicting corporate results, however, make other analysts are more cautious. "The sentiment is mixed. Some people want to buy, but others believe that ECB policy will only lead to short-term recovery. As a whole, the European economy continues to give signals of weakness," said Terry Torisan, Manager at McLaren Securities.

Shares of the energy sector in Europe rose 2 percent after the price of Brent crude oil and other essential resources increased. However, the appreciation has not been stable and in the course of trade oil futures lost profits accumulated.
Demand for safe assets supported German government bonds, the yield on two-year bonds reached a record low of -0.382%. When ten-year bonds, however, had a slight increase in interest rates to 0.57%. In the US, yields on ten-year bonds with a maturity fell to 2.26%. On currency markets, the euro continued to decline against the dollar on expectations the European Central Bank to increase its financial incentives by the end of the year.