EU STOCKS look south

European stocks got pressured again Tuesday as heavy Wall Street selling and global-growth fears took a toll on investors. 

After dropping to a six-week low on Monday and logging its second-straight losing session, the Stoxx Europe 600 index was off 0.5% to 316.65.

On the upside, UBS rose over 3% after the heavyweight Swiss bank returned to a profit in the fourth quarter after a sizable year-earlier loss.

Premier Oil PLC shares gained nearly 4% after the company said Chief Executive Officer Simon Lockett will step down. He will stay in the role until a successor has been announced.

The oil sector was helping to pin stocks to the downside. Shares of heavyweight BP PLC fell 1.3% after the group posted a drop in fourth-quarter earnings.

Another big mover, ARM Holdings PLC, lost more than 4% after the U.K. microchip designer swung to a loss on higher operating costs. 

The FTSE 100 index eased 0.4%, weighed by losses for BP and a 1.3% drop for Vodafone Group PLC 

UK data released showed UK PMI Construction grew to 64.6 points in January, from 62.1 points in December. Consensus pointed to a drop to 61.4 points.

Still, the worst losses were seen in Germany, where the DAX 30 fell 0.8%, with Volkswagen AG tumbling over 4% and Daimler AG down 1.3%. Shares in U.S. car makers dropped on Monday after disappointing sales for January.

Shares of Munich Re AG rose 1% after the German reinsurer posted a big rise in fourth-quarter profit, which helped it beat its full-year target and lift its 2013 dividend.

Auto stocks were also sliding in Paris, where the French CAC 40 index fell 0.3%. Renault SA lost 1.4%. Also down, L’Oréal SA and Danone SA each lost 1%.

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