UK Market Modestly Lower

(RTTNews) - The UK market fell on the first trading day of the new year, amid unimpressive economic data out of the eurozone. The manufacturing sectors in France and Italy continued to contract and that of Germany remained subdued.

Meanwhile, European Central Bank president Mario Draghi hinted at more measures to boost economy, in an interview with the German financial daily Handelsblatt.

Eurozone's manufacturing activity grew at a slower-than-estimated rate in December, final figures from Markit Economics showed. The final Eurozone Manufacturing Purchasing Managers' Index edged up to 50.6, less than the 50.8 score estimated initially, from 50.1 in November.

The German manufacturing sector returned to growth in December. The PMI rose to 51.2, in line with flash estimate from November's 17-month low of 49.5.

The French manufacturing sector continued to contract in December. The PMI dropped to 47.5 in December from 48.4 in November. The score was also below the flash estimate of 47.9.

U.K 's manufacturing activity expanded at a slower rate in December, defying expectations for faster growth, results of a survey by Markit Economics and the Chartered Institute of Purchasing and Logistics, showed.

The seasonally adjusted Markit/ CIPS manufacturing purchasing managers' index fell to a three-month low of 52.5 in December from 53.3 in the previous month. Economists had forecast the index to rise to 53.6.

The Euro Stoxx 50 index of eurozone bluechip stocks was down 0.11 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, was losing 0.23 percent.

The FTSE 100 index fell 0.14 percent.

Coca-Cola HBC and Royal Bank of Scotland fell 2.5 percent each.

Meggitt and British Land were falling 2 percent and 1.7 percent, respectively.

Weir Group gained 2.1 percent and Ashtead Group added 1.7 percent.

Other major markets in the region were also in the red.

The major Asian markets ended higher in the first trading session of the year, as crude oil prices rebounded, offering support to commodity stocks in the region. The Chinese, Japanese, Taiwanese and New Zealand markets remained closed.

In the U.S., futures point to a higher open on Wall Street, after the New Year holiday.

Crude for February delivery added $0.36 to $53.63 per barrel, while February gold advanced $1.8 to $1185.9 a troy ounce.