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LONDON, May 26 (Reuters) - Stock markets were seen opening on a mixed note in Europe on Tuesday, the first day of the trading week for several countries after a holiday weekend, with Greece's ongoing debt drama in focus and after a poor local election result for Spanish Prime Minister Mariano Rajoy.
At 0643 GMT, EuroSTOXX 50 futures were down 0.5 percent, though German DAX futures and French CAC futures were up 0.3 percent and FTSE futures were flat.
Greece intends to make good on its debt obligations but needs aid urgently to be able to do so, the government said on Monday, after several senior officials insisted Athens had no money to pay a loan instalment falling due next week.
Meanwhile, in Spain, a battering in local polls has cast doubt on Rajoy's plan that an economic recovery will secure him a second term later this year.
European shares fell on Monday, with Athens' main equity index falling 3.1 percent and Spain's IBEX down 2 percent. Trading volumes were thin with the London, Frankfurt and New York stock markets shut for public holidays.
Deal-making in the telecoms sector was set to make news again this week, with Franco-Israeli billionaire Patrick Drahi's Altice battling Charter Communications for control of Time Warner Cable and with investors encouraging Vodafone to spin off assets and seek a merger.
Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about $55 billion, combining the second and third largest U.S. cable operators, people familiar with the matter said on Monday.
Charter was competing for Time Warner Cable against French telecommunications group Altice SA.
Investors are encouraging the network operator to spin-off its emerging markets operations and seek a 120 billion pound ($185.38 billion) merger with Liberty Global, according to the Sunday Telegraph.
The drugmaker expects the world's largest economies to pool billions of euros in funding for the development of antibiotics against the growing threat of drug-resistant superbugs, its chief executive said on Friday.
The Italian bank launched a 3 billion euro ($3.3 billion) share sale on Monday, its second cash call in less than a year, to plug a capital shortfall exposed by last year's Europe-wide stress tests and repay state aid.
UBS is seeking to offload its private bank in Australia to the unit's management following a review of underperforming businesses at the Swiss bank, a source with direct knowledge of the matter told Reuters on Monday.
The low-cost airline reports profits up 66 percent after bumper year.
The French cosmetics company said it will reduce prices of most of its imported products in China to encourage domestic consumption, after China promised to slash import tariffs on goods including skincare products.
The company is not interested in buying Procter & Gamble's haircare business, L'Oreal management board member Nicolas Hieronimus told Handelsblatt on Monday. Sources told Reuters last month that Henkel was one of the companies preparing a bid for the unit, which includes the Wella and Clairol brands.
The German drug maker expects sales to grow by around 5 percent in its core operations over the coming years, helped by its pipeline of prospective new drugs, its chief executive was quoted as saying by weekly Euro am Sonntag.
Investment management firm Paulson & Co has 6.05 percent of the tyre company, according to filings from Italian market watchdog Consob.
The drugmaker said the U.S. Food and Drug Administration (FDA) had provided clearance for the cobas Cdiff Test to detect Clostridium difficile in stool specimens.
------------------------------------------------------------------------------ > GLOBAL MARKETS-Asian shares turn higher as China rallies, dollar up > US STOCKS-Wall St ends lower after Yellen comments fail to inspire > Nikkei's winning streak runs into profit-taking > TREASURIES-U.S. bond yields rise on Yellen, inflation data > FOREX-Dollar at 1-month highs, awaits U.S. data for policy cues > PRECIOUS-Gold sits tight near $1,200 as dollar climbs to 1-mth high > METALS-Copper rises on tempered expectations for U.S. rate hike > Oil prices come under pressure from strengthening U.S. dollar
Reporting by Lionel Laurent