European shares declined, after two days of gains, as a measure of German investor confidence fell more than forecast and the Federal Reserve Bank of New York’s general economic index , or the Empire state index missed estimates.German ZEWor investor confidence fell for a second month in February. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, slid to 55.7 from 61.7 in January, after reaching a seven-year high of 62 in December. Economists had forecasted a decline to 61.5.