(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) Adds future prices, details)
MILAN, May 16 (Reuters) - European shares were expected to open slightly lower on Monday, following weaker than expected Chinese data over the weekend.
Volumes could be lower because the Frankfurt Stock Exchange is closed for Whit Monday.
Futures on the Euro STOXX 50, France's CAC and Britain's FTSE were all down by 0.3-0.4 percent at 0615 GMT.
Indicators released on Saturday showed China's investment, factory output and retail sales all grew more slowly than expected in April, raising fears that a bounce seen in March is fizzling.
On Friday, the pan-European FTSEurofirst 300 index rose 0.6 percent, reversing earlier losses buoyed by strong U.S. retail sales data.
In Asian trading on Monday, the U.S figures offset some of the worries over the Chinese economic data, helping Japanese stocks rise.
Italy's biggest telecoms group more than doubled the cost cutting target in its business plan to 2018 after reporting a larger-than-expected 16 percent drop in first-quarter core profit, hit by one-offs and persistent weakness in its key Brazilian market.
Argentina has agreed to pay $217 million to two companies, including BG Group, now owned by Royal Dutch Shell, in long-standing arbitration cases stemming from its 2001/02 economic crisis, part of the center-right government's efforts to lure back foreign investors.
G4S Plc is in talks with lenders in six European countries, including the UK, over opening mobile or high street banking units, its European head told the Financial Times, as the world's largest security firm attempts to rebuild its business by moving into a space many lenders are vacating. (bit.ly/1TcdNBQ)
Standard & Poor's cut the long-term rating of the energy provider to A from A+, citing the group's exposure to volatile commodity prices and the deterioration in fuel commodities prices and European energy prices. Separately, French Energy Minister warned of the costs of EDF's Hinkley Point nuclear project in Britain, the Financial Times reported.
The French pharmaceutical firm was moving ahead on Friday with preparations to replace Medivation Inc's board of directors after the U.S. cancer drug maker refused to engage with it in sale talks based on a $9.3 billion acquisition offer, people familiar with the matter said.
The aircraft manufacturer wants to swap out airframe components in Germany's A400M transport planes after cracks were discovered in a French A400M aircraft, the German defence ministry told lawmakers on Friday.
A merger of industrial gas suppliers Air Liquide and Airgas Inc has been approved with conditions, the U.S. Federal Trade Commission said on Friday.
The French investment firm announced the filing of its takeover project for Oralia.
------------------------------------------------------------------------------ MARKET SNAPSHOT > Japan leads Asia to modest gains despite China data; dollar steady > Wall Street drops at end of tough week for retailers > Nikkei climbs 1 pct as strong US data offsets China woes > Yield curve flattens on stronger U.S. economic data > Yen slips after initial rise on China growth worries > Gold up for 2nd day on China data, weaker stock markets > London copper clings to near 2-1/2 month low after soft China data > Oil prices jump as Goldman Sachs says market flips into deficit
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.
If you have any thoughts, suggestions or feedback on this, please email email@example.com.
Mike Dolan, Markets Editor EMEA.
Reporting by Danilo Masoni