Market Report: UK markets offer some Christmas cheer, Vistry makes Santa’s naughty list

• FTSE 100 0.4% higher in early trading
• Vistry issues profit warning
• US market buoyed by tech stocks
• Crude oil inches above $73

Matt Britzman, senior equity analyst, Hargreaves Lansdown:

“The FTSE 100 delivered a positive start to Christmas Eve trading, despite a week clouded by lacklustre economic data. Monday’s session saw the index close slightly lower after opening in the red, as final GDP figures revealed the UK economy stalled in the third quarter with no growth from the prior period and just a 0.9% annual rise. Adding to the wintry chill, second-quarter growth was revised down from 0.5% to 0.4%, stoking concerns about the UK’s slowing momentum heading into the new year.

Vistry’s festive season is anything but merry, with profit guidance sliding down the chimney once again, this time from £300mn to c.£250mn, as delays to year-end transactions failed to make it onto the nice list. This marks the group’s third profit downgrade of the year, a troubling trend driven by a string of poor management decisions and forecasting missteps that have left investors feeling far from jolly. Even a late cash influx in December couldn’t light up the season, with net debt