Yahoo Finance European stock markets slide
European stock markets slid on Tuesday adding to the heavy losses at the start of the week, while the share price of mining giant Glencore rebounded on assurances of solvency.
In London afternoon trading, the benchmark FTSE 100 index was showing a loss of 0.94 percent at 5,902.74 points.
In the eurozone, Frankfurt's DAX 30 was down 0.92 percent at 9,396.21 points and the Paris CAC 40 dipped 0.36 percent to 4,340.39 compared with Monday's close.
"The greater macro uncertainty led by, but not exclusive to, China has really spooked investors," James Buckley, a portfolio manager at Baring Asset Management in London, told Bloomberg News.
"The Fed doesn't feel able to raise rates yet and there are concerns over whether Europe will be able to continue its very gradual recovery."
In foreign exchange, the euro edged down to $1.1236 from $1.1242 late on Monday in New York, as markets awaited Friday's key US jobs data for indications on whether the Federal Reserve will kick-start a programme of interest rate increases before the end of the year.
European stocks indices had sunk on Monday as more disappointing Chinese economic data and downbeat analyst comment weighed on the mining sector, with London-listed mining giant Glencore closing down almost 30 percent.
Shares in the group rebounded by 20 percent in London afternoon trading on Tuesday, after Glencore assured it remained solvent.
"Our business remains operationally and financially robust -- we have positive cash flow, good liquidity and absolutely no solvency issues," the Swiss company said in a statement.
Trading of Volkswagen shares, which has been extremely volatile over the past week, slipped a further 1.84 percent to 97.47 euros in afternoon trades in Frankfurt.
The scandal-hit group on Tuesday revealed that 1.8 million of its commercial vehicles worldwide are fitted with the sophisticated software enabling them to cheat emission tests.
A company spokesman said the number is part of the 11 million vehicles worldwide that VW has said are affected by the crisis engulfing the world's biggest carmaker.
Andreas Rees, chief economist on Germany at UniCredit Research, said it was "too early to make any reliable forecast of the macro impact of Volkswagen," adding that "there are a couple of unknown quantities such as the pending lawsuits and how strongly consumers and policymakers will react."
- US stocks seek recovery -
US stocks opened slightly higher Tuesday as Wall Street sought to recover from the prior session's rout ahead of a reading on consumer confidence.
Five minutes into trade, the Dow Jones Industrial Average was at up 0.09 percent at 16,016.56 points.
The broad-based S&P 500 rose 0.16 percent to 1,884.79, while the tech-rich Nasdaq Composite Index was essentially flat at 4,543.78, down 0.19 point.
Asian markets Tuesday followed the painful losses across Europe and New York the day before as fears about China's slowing growth resurfaced, contributing to a deep sell-off in resources firms.
Tokyo was down 4.05 percent at the close, while Sydney shed 3.8 percent. Hong Kong lost 2.97 percent and Shanghai was 2.02 percent lower.
burs-boc/ser
