Shares in energy companies slid today after they announced falling profits on tumbling oil prices, although European markets were broadly steady.
London's FTSE 100 index, home to energy majors Royal Dutch Shell and BP, was down 0.43 per cent to 6,796.31 points in afternoon trading.
Frankfurt's DAX 30 slipped 0.06 percent to 10,704.72 points, despite official data showing German unemployment fell in January to the lowest level since the country was reunited in 1990.
The CAC 40 in Paris shed 0.21 percent compared with Wednesday's close to 4,601.40 points.
Greek stocks were up 2.4 percent, recovering some lost ground after diving yesterday, with banks in particular rebounding.
The market had plunged yesterday by 9.24-per cent, with banks losing one quarter of their market value.
"With no real news regarding Greek national debt being restructured or negotiated, traders are taking their cues from the Athens market by getting out of financial stocks to avoid another round of the debt crisis," said David Madden, market analyst at IG trading group.
Greek voters handed a decisive victory to radical left party Syriza at the weekend, putting the country on a collision course with its international creditors over its bailout and giving rise to fears that the country could exit the eurozone -- what is being dubbed a "Grexit".
Today, the euro jumped to USD 1.1342 from USD 1.1284 late in New York yesterday.
New York oil prices tumbled close to six-year lows today, as record-high US crude inventories deepened worries over the global supply glut.
West Texas Intermediate (WTI) for March delivery slumped to USD 44.21 a barrel, one cent above the March 2009 low of USD 44.20 hit two weeks ago.
The contract later stood at USD 44.70, up 25 cents from yesterday's close.
European benchmark Brent North Sea crude for March rose 61 cents to stand at USD 49.08 in London afternoon deals.
The low prices weighed on energy majors, with Shell down 4.0 per cent to 2,157 pence and BP losing 1.8 per cent to 425.25 pence. French oil giant Total gave up 1.1 per cent to 45.04 euros.
