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LONDON, Aug 11 (Reuters) - European stocks were seen opening lower on Tuesday, tracking a pullback in Asian markets after China devalued the yuan following a run of poor economic data.
Financial spreadbetters expected Britain’s FTSE 100 to open down by 11-13 points, or 0.2 percent lower. Germany’s DAX was seen opening down by 31-36 points, or 0.3 percent lower, while France’s CAC 40 was also expected to open down by 0.3 percent, or 15-16 points lower.
China’s move put pressure on commodity prices, which in turn could weigh on European energy and mining shares.
European technology stocks could also come into focus after shares of Google rose in after-market trading in New York.
Google shares climbed 4.8 percent after the bell, after it announced it is changing its operating structure by setting up a new company called Alphabet Inc, which will include the search business and a number of other units.
The Greek stock market could also get a boost after signs that Greece and its international lenders had reached a deal on a new bailout for the country. ------------------------------------------------------------------------------ > GLOBAL MARKETS-US dollar rises as China devalues yuan > US STOCKS-Wall St rallies with energy, materials; Google jumps after the bell > Nikkei erases gains on profit-taking as China devalues yuan > TREASURIES-U.S. bond prices drop as stocks bounce, auctions weigh > FOREX-Yuan slides after China’s devaluation, Aussie dragged lower > PRECIOUS-Gold falls from 3-week high as China move lifts dollar > METALS-Copper pares gains after rally on China stimulus hopes > Oil prices fall after China devalues yuan
Adecco boosted second-quarter net profit 22 percent to 177 million euros ($194.4 million), the world’s biggest staffing group said on Tuesday, slightly lagging market expectations.
A strike on Monday paralyzed work at a General Motors plant in Brazil and the union at a nearby Daimler truck factory threatened to strike over job cuts as labor tensions boiled over in a slumping market.
A U.S. appeals court on Monday said the Federal Deposit Insurance Corporation could sue lenders including Deutsche Bank for making false statements in selling $840 million in mortgage bonds to a failed Texas bank.
The French tyremaker’s U.S brand BFGoodrich said it was recalling approximately 129,000 tyres sold in the U.S., Canada and Mexico, mainly for use on commercial vehicles.
CVS Health Corp, the No 2 manager of drug benefit plans for U.S. employers and insurers, will wait until a second new cholesterol-lowering drug is approved by regulators before negotiating for price discounts or adding either of the much pricer new drugs to its list of covered medications.
The defence group said it had won a contract from the U.S. Air Force to provide Deployable Instrument Landing Systems - mobile equipment that helps aircraft to land in low visibility.
The television broadcaster suffered a 3.2 percent drop in viewers in July compared with a year earlier and a 0.9 percent fall versus June. Year ago figures were boosted by World Cup football audiences.
Reporting by Sudip Kar-Gupta