(Updates futures prices, adds company news)
LONDON, June 25 (Reuters) - European shares were expected to extend the previous session’s losses on Thursday, with lingering concerns of a Greek debt default following a lack of progress in negotiations with its creditors seen prompting investors to trim their exposure to riskier assets.
At 0647 GMT, futures for the Euro STOXX 50, France’s CAC and Germany’s DAX were 0.6 to 0.7 percent lower. Britain’s FTSE 100 futures fell 0.3 percent.
IG said in a note that Greek uncertainty was once again keeping investors at bay.
“Optimism around a Greek deal had been driving price action all week but a stall in the negotiation process has put the brakes on the rally.”
Euro zone finance ministers accused Athens on Wednesday of refusing to compromise despite a deadline next week that could put it on a path out of the euro zone. European Union leaders are due in Brussels for a summit on Thursday.
A senior official of Greece’s ruling Syriza party on Thursday attacked the latest proposals from international lenders as “blackmail”.
The pan-European FTSEurofirst 300 index closed down 0.4 percent on Wednesday, with the euro zone’s blue-chip Euro STOXX 50 index also down 0.4 percent.
The German drugmaker plans to list its plastics division as early as October to take advantage of current rich stock market valuations, according to sources familiar with the deal.
The U.S. Food and Drug Administration said it would discuss the safety and effectiveness of Bayer AG’s contraceptive device, Essure, in a public panel meeting after receiving more than 5000 complaints, including those of deaths and pregnancies.
Vivendi said on Wednesday it raised its stake in Telecom Italia to 14.9 percent, replacing Telefonica as its biggest shareholder and gaining a foothold in a country it said had significant growth prospects.
Martin Bouygues told Le Figaro newspaper in an interview that Bouygues Telecom was not for sale and that the business was ready to do battle after four terrible years. He added that he had seen “considerable difficulty” for Altice in making the takeover of Bouygues Telecom happen and that it was imprudent to assume that competition authorities would have allowed it.
The world’s second-biggest fashion retailer reported a fiscal first-quarter pretax profit roughly in line with expectations on Thursday and said sales so far in June were up 14 percent.
The insurer announced its intention to close its insurance business in Singapore.
Saudi Arabian Airlines will take delivery of 50 aircraft from Airbus in the largest aviation deal to be secured via Islamic financing, as the European planemaker tries to gain an edge over rival Boeing in the key Gulf aviation market.
EU antitrust regulators are asking telecoms equipment customers whether Finnish telecoms equipment maker Nokia’s 15.6 billion euro bid for French peer Alcatel-Lucent would be bad for the market.
Swedish appliances maker Electrolux is looking for a replacement for its Chief Executive Keith McLoughlin, who is going to step down on his own initiative, business daily Dagens Industri reported on Thursday.
Private equity firms Affinity Equity Partners, Carlyle Group and CVC Capital Partners were among 7 to 8 preliminary bidders for Tesco’s South Korean unit, a Korean newspaper reported on Thursday.
The company has recently held talks in Iran to discuss business cooperation with the oil and gas-rich country should international sanctions on Tehran be lifted.
British department store chain Debenhams said it remained on track to deliver full year results in line with market expectations despite seeing no underlying sales growth over its third quarter.
The company said data on multiple sclerosis drug ponesimod showing that the cardiodynamic first-dose effects of the drug are mitigated by the new gradual up-titration will be presented at a drug conference in Madrid this week.
Global Transaction banking is likely to evolve into the second-largest driver of profits, behind investment banking, for the German lender, executive Werner Steinmueller told German daily Handelsblatt.
Daimler Trucks’ full order books in the United States and western Europe are helping to more than offset weak markets in Asia and Latin America.
Norway’s Statoil said if Germany phases out some highly polluting coal-fired power capacity in order to meet its climate goals it would be an encouraging sign for producers selling gas to Europe’s biggest economy.
0600 DE Gfk Consumer Sentiment
1230 US Initial Jobless Claims
1345 US Markit Flash PMI ------------------------------------------------------------------------------ > Asian shares, dollar edge down as markets eye Greece > Wall St ends broadly lower on Greek debt concerns > Nikkei slips from 18-1/2-yr high, sentiment remains positive > Prices rebound on lack of progress in Greek debt talks > Dollar dips, awaits cues from data after paring gains on Greek impasse > Gold ticks up from 2-week low as market eyes Greece > London copper rises in thin trade, Greece deal eyed > Crude prices steady, U.S. oil stocks data disappoints
Reporting by Atul Prakash