LONDON (The Deal) -- European stocks continued their downward trajectory on Tuesday, though better-than-expected data on the eurozone business sentiment helped contain the damage.

In London, the FTSE 100 dropped 0.47% to 5,930.70. In Frankfurt ,the DAX slipped 0.04% to 9,479.58. The CAC 40 in Paris fell 0.22% to 4,347.60

Beleaguered mining and commodities trading group Glencore (GLNCY)  was up about 9% by late morning in London, making it the lead gainer on the FTSE 100, after it plunged 29% on Monday and posted a further 29% decline in Hong Kong on Tuesday.

In Frankfurt, Volkswagen (VLKAF) , another stock whose value has been decimated in recent days, edged up more than 1%.

The European Commission's economic sentiment index jumped in September to 105.6 points, a four-year high, from 104.1 , while the business climate indicator rose to 0.34 from 0.20, defying expectations of a fall.

In London, plumbing supplies distributor Wolseley (WOSYY)  plunged more than 12%, making it the worst performer on the FTSE 100, after full-year results came in a shade below expectations.

Investment bank Panmure Gordon plummeted over 20% after it swung to a small pretax loss in the first half because of difficult "external political and economic factors," including the U.K. elections and problems in China, and said markets have remained challenging in the second half.

Eastern European-focused discount airline Wizz Air Holdings rose in London after raising its full-year profit guidance after a strong summer.

Online clothing retailer rose almost 4% after beating sales and profit forecasts in the first half and lifting full-year sales growth guidance from 25% to between 30% and 35%, a target that analysts at Peel Hunt LLP predicted it would beat.

South African financial services company MMI Holdings fell more than 2% in Johannesburg as Credit Suisse Group analysts cut their recommendation to neutral from outperform.

"Cracks appear in the excess capital return story. We believe investors will have to meaningfully reduce their expectations of ordinary dividend growth and excess capital returns which, up until now, have been the basis of the MMI investment case," they wrote.

Indian indices rose after the Reserve Bank of India cut interest rates for the fourth time this year. The central bank cut the repo rate by a bigger than expected 50 basis points to 6.75%.

In Tokyo, the Nikkei 225 tumbled 4.05% to close at 16,930.84. The decline was the largest since the global stock market rout of Aug. 24 dubbed Black Monday.

The Topix fell 4.39% to 1,375.52 .

Trading company Mitsui & Co. closed down 9.6% in Tokyo on news of a Swiss antitrust investigation into potential precious-metals price collusion.

Telecom and Internet holding company SoftBank Group (SFTBY) fell 6.4%, while NTT DoCoMo Inc. fell 5.7%. 

In China the Shanghai Composite gained 0.92% to close at 3,185.62.

In Hong Kong the Hang Seng gained 0.18% to close at 21,796.58.