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imageLONDON: Europe's stock markets tumbled for a second day running on Friday, with a broad sell-off in global equities markets showing no signs of abating despite solid US jobs data.

Frankfurt's main DAX index dived 2.10 percent to end at 9,210.08 points, compared to Thursday's closing levels.

London's benchmark FTSE 100 index shed 0.76 percent to 6,679.18 points, while in Paris the CAC 40 tumbled 1.02 percent to 4,202.78 points, its lowest level since early February.

The losses come after the Dow on Thursday posted its biggest single day sell-off since February on weak eurozone data and as news of Argentina's debt default shook the market.

The losses, which extended to Asia overnight as investors also fretted over conflicts in Ukraine and the Middle East, come after a rally that has seen share markets around the world hit multiple record highs.

Portugal's main exchange also slumped 3.04 percent, dragged down by banking shares after stricken lender Banco Espirito Santo reported a record first-half loss on Wednesday.

"Western stock markets definitely turned a corner yesterday when what was just another correction turned into a rampant sell-off," said Jasper Lawler at CMC Markets.

The drop came despite Chinese manufacturing activity increasing sharply in July and rising at its fastest pace in more than two years, according to official statistics.

Wall Street also turned lower after a solid US jobs report for July and some strong earnings gave markets a little support at the open.

In the much-anticipated report, the Labor Department said the US economy generated 209,000 new jobs in July, down from June but continuing a strong growth streak since February.

In mid-afternoon trade, the Dow Jones Industrial Average slipped 0.47 percent to 16,484.84.

The broad-based S&P 500 fell 0.42 percent to 1,922.48, while the tech-rich Nasdaq Composite Index lost 0.64 percent to 4,341.81.

The report was "a timely reminder that US economic data is not suddenly shifting into overdrive," said Berenberg senior economist Christian Schulz.

Euro stabilises:

In foreign exchange trading, the euro rose to $1.3431 from $1.3390 late in New York on Thursday. On Wednesday it struck an eight-month low of $1.3367.

The European single currency also firmed to 79.81 pence from 79.29 pence on Thursday. The pound slid to $1.6831 from $1.6886.

The price of gold rose to $1,291.25 an ounce on the London Bullion Market from $1,285.25.

On the corporate side, shares in French telecom company Iliad plunged 7.48 percent, pulling down the entire telecom sector after the company bid for US firm T-Mobile.

ArcelorMittal slumped 6.11 percent after the steel titan reduced its outlook for 2014 because of a lower-than-expected iron ore price, even as it reported a return to profit in the second quarter.

L'Oreal slipped 1.82 percent to 124.10 euros despite the leading world cosmetics group posting a 1.5-percent rise in first-half net profits.

In London, International Airlines Group gained 2.24 percent after the company reported higher quarterly profit thanks to improvement at its Spanish carrier Iberia, while its other main operator British Airways landed a solid performance.

IAG also announced that Iberia would be taking delivery of a fleet of new long-haul Airbus planes after signing a purchase proposal last year.

Meanwhile shares in French construction giant Vinci dropped 6.33 percent as it reported its full-year sales could fall despite a 76.9 percent surge in first-half net profit.

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