European equities slip at end of volatile quarter

European stocks slid Thursday, weighed down by lower commodity prices at the end of a volatile quarter for markets.

At around 1115 GMT, Frankfurt's DAX 30 index was down 0.4 percent and Paris 1.0 percent lower as investors reacted to figures showing eurozone consumer prices fell this month despite the European Central Bank boosting its already massive stimulus programme to beat deflation.

Outside the eurozone, London shed 0.6 percent as traders brushed aside official data showing that Britain's economy grew faster than expected last year.

"A mixed lead from Asia, a pullback in oil prices and end-of-month repositioning weighed on European markets on the final day of a very volatile first quarter," said Jasper Lawler, analyst at traders CMC Markets.

Over the first three months of the year, the FTSE lost 1.5 percent, while the CAC shed 5.1 percent and the DAX 7.0 percent.

World oil prices fell further on Thursday, extending the previous day's heavy losses as a smaller-than-expected increase in US stockpiles failed to stem worries about the stubborn global supply glut.

Copper also sank heavily, weighing on the resources sector.

"The sharp reversal in oil prices on Wednesday in combination with a four-week low in the price of copper has prompted some profit taking in UK-listed miners including BHP Billiton and Rio Tinto," noted Lawler.

BHP Billiton's share price dropped 1.1 percent and Rio Tinto shed 0.7 percent.

World markets had soared Wednesday after Federal Reserve chief Janet Yellen indicated that the US central bank was unlikely to raise interest rates in the first half of this year, citing ongoing concerns about the slow global economy.

But Asian equities experienced mixed fortunes on Thursday as profit-taking set in, one day before the release of key economic data in China and the United States.

On Thursday, Tokyo lost 0.7 percent, while Shanghai eked out a 0.1 percent gain.

Elsewhere Hong Kong finished 0.1 percent lower, Singapore lost 1.3 percent and Seoul shed 0.3 percent. Sydney finished with a gain of 1.5 percent.

- China's Wanda soars -

Investors will now be watching out for China's March manufacturing activity, released Friday, for the latest snapshot of the mainland economy. That is followed by official US jobs figures later in the day.

In Hong Kong, shares in Chinese firm Dalian Wanda Commercial Properties soared 20 percent after its parent firm said it was considering buying back all its shares -- just 16 months after listing.

Billionaire Wang Jianlin, who owns Dalian Wanda Group, is looking to buy the firm back for HK$48 a share, the price it listed, marking a 24-percent premium to its Wednesday close.

Analysts say he has likely become disillusioned with its performance.

The firm's stock has tumbled since listing as China's property market has been hammered by a slowdown in the world's number two economy.

Ratings agency Standard & Poor's (S&P) on Thursday cut its outlook on China from stable to negative, warning that economic rebalancing was taking longer than expected.

- Key figures around 1115 GMT -

London - FTSE 100: DOWN 0.4 percent at 6,177.50 points

Frankfurt - DAX 30: DOWN 0.6 percent at 9,989.80

Paris - CAC 40: DOWN 1.0 percent at 4,398.50

EURO STOXX 50: DOWN 1.0 percent at 3,012.20

Tokyo - Nikkei 225: DOWN 0.7 percent at 16,758.67 (close)

Shanghai - Composite: UP 0.1 percent at 3,003.92 (close)

Hong Kong - Hang Seng: DOWN 0.1 percent at 20,776.70 (close)

New York - Dow: UP 0.5 percent at 17,716.66 (close)

Euro/dollar: UP at $1.1370 from $1.1337 on Wednesday

Dollar/yen: DOWN at 112.43 yen from 112.78 yen