LONDON: European stocks were expected to fall sharply at the open on Wednesday, tracking a similar drop in Asian equities as a relentless slide in oil prices hit world markets.
Financial spreadbetters expected Britain's FTSE 100 to open down by 110-121 points, or 1.9-2.1 percent lower. Germany's DAX was seen down by 221-237 points, or 2.3-2.5 percent lower, while France's CAC was seen down by 96-102 points, or 2.2-2.4 percent lower.
Energy and mining shares could again bear the brunt of a sell-off.
U.S. crude oil prices fell to their lowest level since 2003 after the world's energy watchdog warned the market could "drown in oversupply".
The pan-European FTSEurofirst 300 index had closed up 1.4 percent on Tuesday, marking a rebound from 13-month lows reached earlier this month.
COMPANY NEWS:
RANDGOLD :
Randgold Resources has signed three joint venture agreements with junior miners to explore potential gold deposits in northeastern Democratic Republic of Congo, its chief executive Mark Bristow said on Tuesday.
TELECOM ITALIA /VIVENDI :
Vivendi's investment in Telecom Italia is not a point of entry for French telecoms group Orange into the Italian group, the CEO of the media group said on Tuesday, shooting down talk that it could facilitate a tie-up between the two telecom companies.
VOLKSWAGEN :
Europe's Industry Commissioner has written to the chief executive of Volkswagen asking for detailed information on cars affected by the emissions scandal and calling for Europeans to be compensated in the same way as U.S. customers.
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