European shares fall on Japan nuclear worries

LONDON, April 12 (Reuters) – European shares fell early on
Tuesday after Japan raised the severity of its nuclear crisis to
the highest level, and Alcoa (AA.N: Quote, Profile, Research) missed revenue targets as it
kicked off first-quarter U.S. earnings season.

At 0710 GMT, the FTSEurofirst 300 (.FTEU3: Quote, Profile, Research) index of top
European shares was down 0.8 percent at 1,137.31 points, after
falling 0.2 percent in the previous session.

“Japan is casting a pall over the markets,” said Justin
Urquhart Stewart, director at Seven Investment Management.
“There will also be more issues coming up about euro zone
sovereign debts over the next few weeks.

“And Alcoa has raised worries about whether earnings have
got as good as they’re going to get.”

Miners and energy companies lost ground. Brent crude (LCOc1: Quote, Profile, Research)
fell to around $123 a barrel on Tuesday, extending overnight
losses, on concern high fuel prices will destroy demand and
after Goldman Sachs advised investors to lock in commodity
trading profits.

BP (BP.L: Quote, Profile, Research), Royal Dutch Shell (RDSa.L: Quote, Profile, Research) and Statoil (STL.OL: Quote, Profile, Research)
fell between 1 and 1.5 percent.
(Reporting by Brian Gorman)

European shares fall on Japan nuclear worries