Frankfurt - European shares struggled to hold on to gains Thursday after a slump in Wall Street and a mixed performance of bourses across Asia.

Amid renewed concerns about the outlook for the global economy and corporate profits, Europe's blue-chip Stoxx 50 began the trading day edging up 0.7 per cent to 2,286 points.

Reflecting the nervous investment climate shares in London gained 0.90 per cent in early trading. Paris' CAC 40 index posted a 0.37-per-cent increase. However, Frankfurt lost 0.51 per cent in early trading.

The oil price managed to pull back from recent losses, rising by 0.2 per cent to 66.87 70 dollars a barrel. In July energy prices were heading towards 150 dollars a barrel.

But the economic worries lead to renewed pressures on the euro, which was down 1.5 per cent to 1.2817 dollars.

Wednesday's renewed fall in European stocks came in the wake of a plunge in shares in Tokyo on the back of disappointing company earnings with the Nikkei 225 index sliding by 2.46 per cent. Hong Kong lost more than 3 per cent. (dpa)