European Shares Drift Lower In Cautious Trade

(RTTNews) - European stocks were moving lower in thin holiday trade on Tuesday, taking their cues from a sell-off on Wall Street overnight and weak cues from Asia.

Major markets across Europe will be operating a half-day today, with bourses in Germany, Italy and Switzerland already closed.

The economic data calendar for the day remains relatively light.

Earlier today, official data showed China's factory activity expanded at a slower pace in December in the face of increasing trade risks.

The pan European STOXX 600 was down 0.4 percent at 505.03 after New York's three main indexes all closed with losses of 1 percent or more overnight, thwarting the eagerly awaited Santa Clause rally.

France's CAC 40 and the U.K.'s FTSE 100 were little changed.

Wizz Air Holdings edged up slightly after it has entered into a commercial support agreement with Pratt & Whitney amid engine woes.

Bunzl, a British distribution and outsourcing company, was moving lower after an announcement that it would start the first tranche of its £200m 2025 share buyback program on January 2.

Kistos Holdings rose 1.2 percent. The energy company announced that James Thomson will become Chief Financial Officer and join the Board of Directors on January 1.