European Factors to Watch-Shares to edge down from 4 week high
(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report)
LONDON May 26 (Reuters) - European stocks were seen opening slightly lower on Thursday, set to edge down after hitting a four week high in the previous session, with appetite for equities knocked by a drop in Chinese shares.
Futures on the Euro STOXX 50, Germany's DAX and France's CAC were up to 0.3 percent lower ahead of the cash market open. Futures on Britain's FTSE were flat.
Mainland China stocks slumped to a 2-1/2 month low on Thursday, dampening any broader interest in riskier assets in Asia.
The FTSEurofirst 300 rose 1.3 percent in the previous session, hitting its highest level since late April, buoyed by a rise in banks and oil.
Oil shares could be in focus once again on Thursday, after Brent crude rose above $50 a barrel for the first time in nearly seven months. Oil prices were boosted after U.S. government figures showed a sharper-than-expected drawdown in crude stocks last week.
Among individual movers, traders said that Banco Popular could fall between 10 and 15 percent at the open after unveiling a plan to issue 2 billion new shares at a substantial discount to the market price, in order to strengthen its balance sheet, improve profitability and portect its dividend.
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