(MENAFN- ProactiveInvestors) London’s blue chip index was set to head higher on the final trading day of the year despite uncertainty in Athens weak data from China and low oil prices.
Financial spread bet firms expect FTSE 100 to rebound of about 25 points when trading opens recouping some of yesterday’s 1.3% decline to 6547.
The prospect of a fresh election in Greece knocked markets Tuesday while the price of Brent crude sank 0.66% to close at US$57.5 having been lower earlier.
Traders expects a quiet session as a number of key markets have closed already for New Year’s related holidays while others such as London have shortened trading sessions.
Overnight the latest China manufacturing PMI fell to 49.6 in December pointing to a continuing slowdown in the People’s Republic.
“If things carry on as they are it doesn’t look as if the FTSE 100 will have a particularly happy New Year period” said Chris Beauchamp at spread betting firm .
“But then 2014 as a whole has been disappointing for the index as it fell behind its peers.
“Other indices may have seen fresh all-time highs during the year but the FTSE 100 is still yet to revisit the highs last seen back in 1999.”
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