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By Bloomberg

Concern over growth in China and other emerging markets halted a two-day winning streak for European stocks as miners and carmakers fell.

Glencore Plc tumbled 8.2 percent after posting a slump in profit, leading resource companies to the biggest decline of the 19 industry groups on the Stoxx Europe 600 Index. Daimler AG and BMW AG pulled auto-related stocks lower, falling at least 1.8 percent. Lanxess AG led losses among chemical companies.

The Stoxx 600 slid 0.9 percent to 384.7 at 1:44 p.m. in London, after earlier dropping as much as 1.3 percent. Still, stocks moved in one direction without major fluctuations for the first time since last week. The volume of shares changing hands was 15 percent lower than the 30-day average. European commodity producers are trading at their lowest level versus the broader market since 2002.

“It will be interesting to see at what point investors step in,” said Nick Lawson, the London-based global co-head of macro at Deutsche Bank AG. “The likes of autos, industrials and chemicals will catch up and we saw that in the moves post the PBOC intervention last week as the market moves away from growth and deflation towards income.”

Since the People’s Bank of China devalued the yuan, investors wary of its effect on demand for goods from commodities to cars have sent the Stoxx 600 down 3.8 percent.

Riskier assets are also coming under pressure as the Federal Reserve moves closer to its first rate increase since 2006. Minutes of the Fed’s July meeting are due today after the close of European trading.

DAX Slides

Germany’s DAX slid 1.3 percent, for the worst performance in western Europe, as stocks sensitive to emerging markets, including Volkswagen AG, Siemens AG and ThyssenKrupp AG, led losses.

Greece’s ASE Index advanced 0.5 percent, after earlier gaining as much as 1.3 percent, as Germany’s parliament voted in favor of an aid package for the Mediterranean nation of as much as 86 billion euros ($95 billion).

Among stocks moving on corporate news, Carlsberg A/S tumbled 9.8 percent after the world’s fourth-biggest brewer reported second-quarter profit that missed estimates, and forecast a drop in annual profit.

Swisscom AG fell 1.9 percent after second-quarter revenue fell short of analyst projections.

Raiffeisen Bank International AG jumped 8.6 percent after the second-biggest lender in eastern Europe said net income grew 11 percent, beating analyst estimates.

Admiral Group Plc advanced 5 percent after the U.K. car insurer announced a higher-than-forecast dividend.