European stocks experienced a downward trend in Tuesday's holiday-thinned trading session, influenced by a significant overnight sell-off on Wall Street and weaker signals from Asian markets. Major European exchanges are operating for half the day, with those in Germany, Italy, and Switzerland already closed. The day's economic data schedule appears relatively sparse.
Earlier, official reports revealed that China's factory activity saw slower growth in December due to mounting trade risks. Consequently, the pan-European STOXX 600 index declined by 0.4 percent, settling at 505.03, reflecting the slump in New York's three primary indexes, each of which registered losses exceeding 1 percent. This downturn has disrupted the much-anticipated year-end Santa Claus rally.
Meanwhile, France's CAC 40 and the U.K.'s FTSE 100 remain relatively stable. Wizz Air Holdings made slight gains following its new commercial support agreement with Pratt & Whitney to address engine issues. British distribution and outsourcing enterprise Bunzl saw its shares decline after disclosing that it will initiate the first phase of its £200 million share buyback program for 2025, starting January 2.
In contrast, Kistos Holdings experienced a 1.2 percent rise after announcing that James Thomson will assume the role of Chief Financial Officer and join the Board of Directors effective January 1.
