European shares fall, set for weekly loss on Middle East worries

European shares fell on Thursday, dragged down by concerns over escalating tensions in the Middle East, putting the STOXX 600 on track for a weekly loss. The pan-European STOXX 600 index was down 0.4 per cent by 0710 GMT, with basic resources and construction sectors leading the declines. Worries about a wider conflict in the Middle East have grown this week after reports of explosions in Iran. SAP shares jumped 4.7 per cent after the software company reported first-quarter earnings that beat expectations.