Europe open: Shares slip into red on opening day of 2025

(Sharecast News) - European shares slipped into the red on the first day of trading in 2025, giving up a bright start.

The pan-European Stoxx 600 index reversed early gains to be down 0.11% at 507.08, reflecting a mixed situation among major continental bourses.

Asian shares were also mixed after growth in factory sector activity in the People's Republic of China slowed at the end of 2024, amid softer export demand, according to the results of a closely followed survey.

Private sector survey compiler Caixin reported a decline in its manufacturing sector Purchasing Managers' Index from a reading of 51.5 in November to 50.5 for December.

Economists had forecast a reading of 51.7.

In the UK, house prices inched closer to record highs in December, according to Nationwide, though the market is likely to see increased volatility over the next few months ahead of the introduction of new changes to stamp duty.

Nationwide reported on Thursday that UK house prices rose 0.7% over the month of December to �269,426, up 4.7% on last year, to sit just below an all-time high (�273,751) recorded in summer 2022.

There was little corporate news to drive sentiment. Vestas Wind Systems gained after the Danish wind turbine maker unveiled its latest list of new orders.

Reporting by Frank Prenesti for Sharecast.com