LONDON (AFP) ? Stocks in London and across Europe slipped on Friday on the increasing prospect of a sharp economic downturn, with attention focused on US jobs data, widely expected to deepen the gloom of flagging growth and eurozone debt.
European stock markets initially fell 3.0-4.0 percent after heavy falls in Asia and on Wall Street as traders nervously awaited vital US employment figures for July due at 1230 GMT.
But losses were less acute by midday, with the FTSE 100 index of top shares down 2.62 percent after initial losses of more than 3.0 percent which had sent it to levels last seen 11 months ago.
Elsewhere, France's Cac 40 index was down nearly 1.16 percent and Germany's Dax dived 2.35 percent.
However, Milan eventually rose 0.45 percent after earlier slumping 3.5 percent and Madrid ticked up 0.4 percent after earlier shedding 2.4 percent.
Tokyo closed 3.72 percent lower, Sydney slumped 4.0 percent and Taipei dived 5.58 percent.
Traders are nervously awaiting vital US employment figures for July due at 1230 GMT as they mull whether a so-called double-dip recession is in sight.
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