LONDON, June 4 (Reuters) - European shares were seen opening lower on Thursday, with the region’s stock markets expected to be pegged back a rise in bond yields, which can typically result in higher debt costs for companies.
Financial spreadbetters expected Britain’s FTSE 100 to open down by 8-16 points, or as much as 0.2 percent lower. Germany’s DAX was seen down by 21-30 points, or as much as 0.3 percent lower, while France’s CAC 40 was seen down by 4-20 points, or as much as 0.4 percent lower.
German Bund yields had risen on Wednesday after Mario Draghi, president of the European Central Bank, said the ECB saw no reason to adjust its monetary policy stance following a recent pick-up in European bond yields.
Some traders were also set to adopt a cautious approach as Greece’s debt talks continue.
Greek Prime Minister Alexis Tsipras emerged from late-night talks with senior EU officials in Brussels saying a deal with creditors was “within sight” and that Athens would make a payment due to the IMF on Friday.
But while the European Commission said “progress was made in understanding each other’s positions”, the leftist-led Greek government still rejects benefit cuts and tax rises its EU and IMF creditors want before they release fresh loans to avert a bankruptcy that could disrupt the euro zone and world markets. > GLOBAL MARKETS-China shares sink, euro rides high as yields spike > US STOCKS-Wall St ends up; financials gain with bond yields > Nikkei rises on global market gains; Rakuten tumbles on share-issue plan > TREASURIES-U.S. 10-year yield at 7-month peak, in line with Bunds > FOREX-Euro gains on yen but rally pauses against dollar > PRECIOUS-Greek progress, robust US data keep gold near 3-week low > METALS-London copper holds at $6,000 on weaker dollar, but downside seen > Oil prices dip as crude glut overshadows strong fuel demand (Reporting by Sudip Kar-Gupta)