Frankfurt (dpa) - European shares and the euro came under renewed pressure on Wednesday amid worries about fresh political turmoil in Greece and Russia‘s deepening financial crisis. The eurozone‘s blue-chip Euro Stoxx 50 index slumped 0.6 per cent to 3032 points in morning trading after benchmark Brent crude oil tumbled to near-five year low of below 60 dollars a barrel. Tuesday‘s gains in European shares now appear to have been just a brief respite from the recent slide in stock prices, with oil company stocks once again leading the declines on the region‘s main bourses. Oil prices have plunged about 50 per cent since June amid a supply glut and worries about weak global demand. This in turn has sent the Russian rouble into a tailspin, with the nation‘s economy also hit by international sanctions imposed on Moscow over its role in the conflict in eastern Ukraine. The nervous mood prevailing among European investors on Wednesday also came as part of the buildup to Wednesday‘s presidential ballot in the Greek parliament. Analysts warn that the snap poll could result in an anti-fiscal policy candidate winning the largely ceremonial office, which could then pave the way for fresh national elections in the debt-hit euro member state. The threat of another bout of political turbulence in Greece helped send the euro down 0.4 per cent to 1.2445 dollars. Underlining the current sense of uncertainty gripping financial markets, the price of gold edged higher in Wednesday trading. Seen as a safe-haven investment during periods of economic and political upheaval, gold rose 0.2 per cent to 1.198 dollars an ounce in European trading.

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