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London pre-open: Shares seen lower on first trading day of 2023
(Sharecast News) - Stocks in London are set to start the new year slightly weaker on Tuesday as traders return from the holiday break. The FTSE 100 was seen 2.5 points lower at 7,463.54. With little corporate or economic news to drive markets, trade was expected to be thin.
In China, the Caixin PMI dipped to 49.0 in December from 49.4 in November, indicating a less glum state than the official PMI, which dropped to 47 from 48, said Pantheon Macroeconomics.
"The Caixin survey, though smaller, has greater representations of light industries and private companies than the official survey. In any case, the overall short-term picture for China's economy is still dark as it struggles with mountains of Covid infections," Pantheon added.
In equity news, Ferrexpo owner Kostyantin Zhevago, detained last week by French police, has resigned from the company's board, the iron ore pellet producer and exporter said on Tuesday.
Budget airline Wizz Air carried 4,180,310 passengers, representing a 58.4% increase compared to December 2021, at a load factor of 84.5%.
Reporting by Frank Prenesti for Sharecast.com
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