European shares fall as downed plane revives Ukraine worries
* FTSEurofirst 300 down 0.4 pct, trims gains for the week
* Investors trim exposure after plane is downed over Ukraine
* No market panic on hopes international pressure will help end crisis
* Ericsson surges after earnings to provide support
By Francesco Canepa
LONDON, July 18 (Reuters) - European shares fell on Friday as the shooting down of a passenger plane over Ukraine stoked tensions between Russia and the West and sapped appetite for assets which depend on economic growth.
Uncertainty over how the incident will affect the conflict between the Ukrainian government and separatists led many investors to close their long positions ahead of the weekend in case the situation deteriorates.
But selling pressure was moderate and volatility low as the loss of the Malaysian airliner with 298 people aboard was also seen as intensifying international pressure to resolve the worst crisis between Russia and the West since the Cold War.
"People in the market are still worried that there will be an escalation in the conflict (following the plane crash)," said Markus Huber, senior sales trader at Peregrine & Black. Continuación...