European shares fell at the open as escalating US-Iran tensions dented risk appetite, while investors assessed earnings from BP, Ericsson and Evotec amid rising oil prices.

European stocks fell as oil prices rose amid US-Iran tensions. Crude oil reaching a new all-time high by December 31 at 12.5% YES.

The pan-European STOXX 600 index slipped 0.3% to 639.29 in early trade, extending losses after posting its biggest weekly decline since late April in the previous session.