European markets rattled as global recession fears linger

Index of Britain's top 100 firms at six-month low and oil prices fall 3% to below $58 a barrel

Stock markets in Europe extended their losing streak on Thursday and oil prices fell 3% to below $58 a barrel as mounting recession concerns continued to hit investor confidence.

The index of Britain's top 100 firms dropped more than 1% to hit a six-month low and and stock markets in continental Europe also dipped in response to investors channelling their funds into financial safe havens. However, US stocks staged a modest recovery after heavy sell-offs on Wednesday.

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