(MENAFN- AFP) Festering worries over global economic growth and low oil prices sent fresh jitters through stock markets which marked time on Thursday.
Investors also remain anxious over the impact of a widely-expected interest rate hike from the US Federal Reserve on December 16, dealers said, while London sagged after the Bank of England left borrowing costs unchanged at a record low of 0.5 percent.
James Hughes, analyst with GKFX, said that was a correct call given the UK economy's current relatively solid showing, while noting the divergence with the US Federal Reserve.
"There are no reasons to raise UK interest rates currently -- however, with the Fed due to raise next week the worry is that the BoE will feel the pressure mount and move quicker than is expected."
Tony Cross at Trustnet Direct bemoaned a sixth straight loss for London's FTSE 100 index but noted bright spots with Glencore "top of the table as investors cheered its debt reduction plans (while) other mining stocks also found favour.
Cross added ahead of Friday's US retail sales and consumer confidence data that "it would arguably take a bit of a shocker here to derail the Federal Reserve's resolve to hike interest rates."
Earlier, Rebecca O'Keeffe, head of investment at stockbroker Interactive Investor, said sentiment "remains fragile" amid growth concerns, weak commodity prices and the likelihood the Fed will next week hike rates which meant "we're unlikely to see any significant push higher until we get beyond" that decision.
Asia slipped back as investors grappled with low oil prices that sit close to seven-year lows as well as tumbling commodity prices which have sent shivers through markets worldwide.
After the BoE rates announcement, London ended down 0.6 percent, while Frankfurt boasted minuscule gain and Paris ended a smidgen softer. France's EDF, the world's biggest operator of nuclear power plants, led Paris gainers with a 6 percent rise.
London losses were limited by a surge in Glencore after the Swiss-based mining giant issued a solid investor update, widening its debt-trimming plan in an effort to cope with the worst commodities downturn in seven years.
Glencore said it wanted to get debt between $18-$19 billion (16.4-17.3 billion euros) by the end of next year, after previously announcing a target of $20 billion.
Spending projections have also been cut back, with $3.8 billion allocated for investments in 2016, down from an earlier estimate of $5 billion.
The firm's share price soared 10.91 percent in early trading and closed up 7.7 percent at 89.46.
"The plan to reduce its net debt ... appears to be sitting well with investors this morning," said analyst Brenda Kelly at London Capital Group.
Oil prices meanwhile held steady, although the market has shed around nine percent since the OPEC cartel decided last Friday against cutting output despite a global glut and weak demand.
OPEC earlier revealed the cartel's crude production hit a three-year high in November but that it expected 2016 oil supply from outside the group would decline by 380,000 barrels per day.
Wall Street posted gains following three straight days of declines prompted by plunging oil and commodities prices.
The Dow Jones Industrial Average was at 17,611.18, up 0.7 percent while the broad-based S&P 500 and the tech-rich Nasdaq Composite Index added half of one percent.
In Asian stock market deals, Tokyo's Nikkei index slipped 1.3 percent, while Hong Kong lost 0.5 percent.
- Key figures around 1700 GMT -
London - FTSE 100: DOWN 0.4 percent at 6,100 points
Frankfurt - DAX 30: UP 0.1 percent at 10,599
Paris - CAC 40: DOWN 0.05 percent at 4,635
EURO STOXX 50: DOWN 0.1 percent at 3,274
Tokyo - Nikkei 225: DOWN 1.3 percent at 19,046.55 (close)
New York - Dow: UP 0.7 percent at 17,611.18
Euro/dollar: DOWN to $1.0944 from $1.1026 late in New York on Wednesday
Dollar/yen: DOWN to 121.64 yen from 121.40 yen
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