European Factors to Watch-Shares seen bouncing back
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LONDON, July 1 (Reuters) - European shares headed for a higher open on Wednesday, tracking gains on Wall Street and Asia, with some investors still eyeing a positive outcome in Greece after Greece became the first advanced economy to default on a loan with the IMF.
Futures for the Euro STOXX 50, France's CAC, Britain's FTSE 100 and Germany's DAX were up 0.4 to 1.0 percent by 0651 GMT.
The euro zone's blue-chip Euro STOXX 50 accelerated losses in the late trading on Tuesday and ended down 1.3 percent on signs that Greece was likely to default in its IMF loan payment and as German Chancellor Angela Merkel said Germany would not negotiate on a new bailout agreement for Greece before its referendum on Sunday.
European finance ministers will confer later on Wednesday over Greek Prime Minister Alexis Tsipras' request for a new two-year loan to pay debts that amount to nearly 30 billion euros.
On Wednesday, French Finance Minister Michel Sapin said France would still try to reach a goal with Greece before the Sunday referendum.
The International Monetary Fund confirmed that Greece had not made its scheduled 1.6 billion euro loan repayment. The fate of Greece's membership in the 19-nation currency bloc hangs in the balance ahead of a referendum on Sunday when Greek citizens will vote on whether to accept the austerity terms of continued international aid.
"A certain calm has descended on global markets and there seems to be a growing and potentially misplaced sense that the rest of the world should see a positive outcome from the Greek referendum," Chris Weston, chief market strategist at IG said in a note.
The Euro STOXX 50 index fell 4 percent last month, the biggest monthly drop in two years. Continuación...