(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, June 7 (Reuters) - European shares headed for a broadly higher open on Tuesday, mirroring gains on Wall Street and in Asia after Federal Reserve Chair Janet Yellen dropped a reference to the timing of any increase in U.S. interest rates in her latest speech.
Yellen's remarks, which were likely her last public comments before a policy meeting next week, followed Friday's dismal monthly jobs report, which raised concerns over the ability of the economy to absorb a rate hike as early as June. Yellen called the jobs report "disappointing," but said "one should not attach too much significance to a single report."
Futures for the Euro STOXX 50, Germany's DAX and France's CAC were 0.4 to 0.5 percent higher. However, futures for Britain's commodity-heavy FTSE index were up only 0.1 percent following a retreat in metals prices after a jump in the previous session.
European stocks edged up on Monday, helped by gains in major mining and oil company shares following weakness in the dollar prompted by Friday's weak U.S. jobs data. The pan-European STOXX 600 and the FTSEurofirst 300 equity indexes rose 0.3 and 0.4 percent respectively.
In the United States, the S&P 500 index closed at a 7-month high on Monday, while MSCI's broadest index of Asia-Pacific shares outside Japan rose more than 1 percent on Tuesday as investors judged the Fed's cautious stance as well-suited to equities.
On the macroeconomic front, German industrial output rose slightly more than expected in April, suggesting that the motor of Europe's largest economy was humming along at the start of the second quarter.
The oil major said it would sell up to 10 percent of its oil and gas production, leaving up to 10 countries to cut costs following its $54 billion acquisition of BG Group. Shell said it would maintain annual spending below $30 billion until the end of the decade and cut its planned 2016 capex for a third time to $29 billion, down from an initial $35 billion.
Germany wants stricter European Union rules on emissions from motor vehicles, the transport ministry said on Monday, confirming a report by the financial daily Handelsblatt.
BASF said on Monday it would refrain for now from building a propylene plant in Texas because of volatile commodity prices, a sign that an aggressive U.S. Gulf Coast petrochemical building boom announced earlier this decade could be cooling.
Daimler AG announced 1,240 layoffs at three plants in the U.S. and one in Mexico at its truck division.
Europe's largest hotel group, which wants to limit a push by Chinese shareholder Jin Jiang to increase its stake, should maintain a diverse group of shareholders, French President Francois Hollande said.
Thebank is discarding plans to set up a new digital banking service in the United States for fear of the move hampering a sweeping overhaul aimed at restoring the lender's fortunes after a damaging string of financial scandals.
The Brazilian unit of the French utility company is looking to sell its natural gas blocks in Brazil's Bahia and Maranhao states as part of a global strategy to focus on renewable energy resources, the division's chief executive said.
Preliminary work got underway on Monday to restart three of Total's French oil refineries stopped as part of nationwide strikes against planned changes to employment laws, but workers were still on strike at the country's two main oil ports.
A U.S. judge on Monday said Glencore Plc must face a private antitrust lawsuit accused it of trying to monopolize the market for special high-grade zinc, driving up its price.
The Italian asset manager said on Monday its total net inflows were 433 million euros ($492 million) in May.
Standard & Poor's said it revised UBS Group AG rating to 'A-' from 'BBB+', outlook revised to 'stable' from 'positive'
Pharmaceutical companies Roche and OSI Pharmaceuticals LLC will pay $67 million to resolve allegations they made misleading statements about the effectiveness of lung cancer drug Tarceva, the U.S. Justice Department said on Monday.
The world's No. 3 elevator maker will initially acquire a 25 percent equity stake in Volkslift Elevator (China) Co. Ltd. with options to purchase remaining shares. A price for the transaction in China, the world's biggest lifts market, was not given.
Norwegian oil firm Det norske said the giant Johan Sverdrup oilfield in the North Sea could produce more oil than earlier projected and would cost less to develop, confirming estimates by fellow partner partner Lundin Petroleum of Sweden.
Oil and gas explorer Ophir Energy Plc said on Monday it was talking to a range of equity investors, as well as gas buyers to help finance its Fortuna FLNG project in Equatorial Guinea, after Schlumberger walked away.
Mike Ashley, the billionaire founder of Sports Direct , is set to face tough questions from British lawmakers on Tuesday over working practices at his sportswear firm.
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). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.
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Mike Dolan, Markets Editor EMEA. (Reporting by Atul Prakash)