LONDON, July 24 (Reuters) - European shares edged lower on Friday, led down by satellite operator SES and chemicals firm BASF after poorly received corporate updates.

The pan-European FTSEurofirst 300 was down 0.3 percent at 1,574.44 at 0706 GMT, hitting a one-week low.

The biggest faller on the index was SES, down 8 percent after it cut its full-year revenue and profit guidance, hit by a delayed satellite launch and a decline in earnings from fixed data customers due to the strong dollar.

German firm BASF, the world's largest chemicals company by sales, fell 4.1 percent after earnings missed expectations.

(Reporting by Alistair Smout, Editing by Liisa Tuhkanen)