(Updates futures prices, adds company news)
LONDON, July 9 (Reuters) - European shares headed for a higher open on Thursday, with some investors betting that Greece’s international creditors will positively consider Greece’s reform proposals and ultimately agree on a debt deal.
In a speech to the European Parliament, Greek Prime Minister Alexis Tsipras called for a fair deal after EU leaders gave him five days to come up with convincing reforms.
The Greek government submitted a request to the European Stability Mechanism bailout fund to lend an unspecified amount “to meet Greece’s debt obligations and to ensure stability of the financial system” and promised to begin implementing tax and pension measures.
“European equities are set to start with gains this morning as traders continue to be bucked by the reassurances that Alex Tsipras will submit a credible set of reforms to secure much needed cash,” London Capital Group said in a note.
Futures for the Euro STOXX 50 index, Germany’s DAX, France’s CAC and Britain’s FTSE 100 were 0.4 to 0.7 percent higher by 0633 GMT.
The euro zone’s Euro STOXX 50 index, Germany’s DAX and Italy’s FTSE MIB rose 0.8 to 2.1 percent in the previous session.
Commodity-related stocks will be in focus as stocks in China, the world’s largest metals consumer, rallied on Thursday after the securities regulator banned shareholders with large stakes in listed firms from selling, in Beijing’s most drastic step yet to stem a sell-off that has roiled global financial markets.
On the macroeconomic front, German exports rose at their fastest pace this year in May, boosting expectations that Europe’s largest economy will pull off stronger growth in the second quarter after expanding modestly in the first.
Germany’s big car makers have reached a stand-off with Nokia in their joint bid to buy the Finnish company’s maps business HERE, while rival offers appear to be unravelling, sources familiar with the process said.
Potash Corp of Saskatchewan Inc does not plan to sweeten its bid for German rival K+S AG, several people familiar with the Canadian mineral miner said, downplaying a media report that it would consider such a move.
Separately, K+S finance chief Burkhardt Lohr denied that the German company expected a minimum bid of 50 euros per share, according to an interview in daily Boersen-Zeitung.
ASSOCIATED BRITISH FOODS - The company, owner of budget fashion retailer Primark and British Sugar, on Thursday maintained current year guidance after posting a small rise in year-to-date revenue.
Europe’s largest sugar refiner reported its quarterly profit dropped by more than half as sugar markets remained tough.
The drugs-packaging firm confirmed its guidance for a 1-3 percent rise in organic sales this year after second-quarter revenues and earnings exceeded analyst expectations.
WPP is to team up with General Atlantic on a Tesco Clubcard bid, Bloomberg News reported.
British infrastructure group Balfour Beatty issued a fresh profit warning on Thursday, likely tipping the group into another loss for 2015.
Two shareholders in Europe’s largest dedicated online fashion retailer sold 244 million euros worth of stock representing 3.36 percent of the company’s share capital at 29.5 euros each compared to the last closing share price of 31.12 euros.
Says shareholders subscribed to 71.7 percent of shares on offer in capital hike, raising gross proceeds of approximately eur 101.66 million euros.
The drugmaker and partner Regeneron said the results of a late-stage study in Japan of its Praluent injection showed the drug reduced levels of “bad cholesterol” in patients by more than 60 percent.
The French cancer drugmaker said it would receive an undisclosed payment after achieving a “significant milestone” under its collaboration agreement with Servier.
The Franco-Dutch airline said its KLM arm had signed a productivity and pay freeze agreement with leaders of the Dutch pilots’ union VNV that would allow the airline to move ahead with a cost-saving plan.
British housebuilder Barratt Developments said it expected to report a better-than-expected 45 percent rise in profit for the year to end-June after it completed more homes than forecast, and helped by house price inflation.
Emerging markets-focused fund manager Ashmore Group saw assets under management fall $2.2 billion in its fourth-quarter to $58.9 billion, as client demand to pull cash more than offset a better market performance.
Q2 2015 PepsiCo
Q3 2015 Walgreens Boots Alliance
1100 GB BOE Bank rate
1230 US Initial Jobless Claims ------------------------------------------------------------------------------ > Asia stocks rise as China fall stemmed, yen off highs > Wall St sharply lower on China fears; NYSE suffers outage > Nikkei hits 3-month low on China fears, then sheds most of the loss > TREASURIES-Prices turn up after Fed minutes > Yen gives up gains on hopes that China stocks stabilizing > Gold languishes near 4-mth low on tepid safe-haven demand > London copper up on short covering, calmer China stocks > Oil prices bounce; but oversupply, demand worries drag (Reporting by Atul Prakash; Editing by Sudip Kar-Gupta)