London pre-open: Stocks seen lower on Christmas Eve after more Wall St losses

Santa was nowhere to be seen in London equity markets on Christmas Eve, with stocks set for a downbeat half-session following more heavy losses on Wall Street just before the weekend.

The FTSE 100 was called to open 56 points lower at 6,665

On Friday, US stocks tumbled amid worries about global economic growth and the temporary US government shutdown. The mood was also undermined by comments from White House trade adviser Peter Navarro, who said the US might not reach a trade deal with China in the next three months unless Beijing can agree to a "profound overhaul" of its trade and industrial practices.

The Dow slumped 1.8% to 22,445.37, the S&P 500 closed down 2.1% at 2,416.62 and the Nasdaq slid 3% to 6,332.99.

Unsurprisingly, UK corporate news was scarce.

Anglo American raised 2019 guidance for its Minas-Rio iron ore operation in Brazil after receiving regulatory approval relating to the Step 3 licence area.

The mining giant said it now expected production to be 18m -20m tonnes (wet basis), from the previous guidance of 16m -19m.

Elsewhere, online gaming company Playtech said new Italian gambling taxes would hit Adjusted EBITDA by approximately €20m-25m.

The Italian Senate on Sunday passed the government's 2019 budget which includes legislation to increase taxation on various types of gambling activities.

The legislation is expected to receive final approvals, including from the Chamber of Deputies, before the end of 2018, Playtech said.