LONDON, June 27 (Reuters) - European stocks were seen extending gains into a third session on Thursday as concerns about a credit crunch in China and a scaling back of U.S. monetary stimulus continued to ease. At 0616 GMT, futures for the Euro STOXX 50, Britain's FTSE 100 , Germany's DAX and France's CAC were between 0.2 percent and 0.5 percent higher. Chinese money market rates moderated for a fifth day after last week's spike, helping Asian stocks recover some of their recent hefty losses as fears of a credit squeeze subsided. U.S. stocks also rallied while the VIX index of implied volatility, which gauges option prices and is regarded as a measure of U.S. stock investor 'fear', fell on reduced concern that the Federal Reserve will begin to withdraw its stimulus in the near future. Economic data from the United States has been mixed this week and Fed policy makers have said that the central bank's monetary stance will remain accommodative even if its asset-purchase programme is dialled back. "Overnight, the market found more relief, as indicated by the lower VIX," Credit Agricole said in a note. "We expect more soothing comments from Fed speakers, while euro zone data will point to gradual improvement." Euro zone data economic sentiment data is due at 0900 GMT. Economists in a Reuters survey expect the index to rise to 90.3 points in June from 89.4 the previous month. The expected equity gains on Thursday would come after the Euro STOXX 50 index bounced 4.3 percent from last week's low to close at 2,602.81 points on Wednesday. The index is now 8.7 percent off the two-year high it hit in late May but it faces technical resistance at the higher end of a "bearish gap" between its low on June 19, at around 2,680 points, and the intra-day high the following day. "Look for choppy price action with a bearish bias as long as 2,684...is resistance," Nicolas Suiffet, a technical analyst at Paris-based technical analysis firm Trading Central, said. "Only a break above 2,684 would reinstate a positive bias towards the previous short term high at 2,851." -------------------------------------------------------------------------------- MARKET SNAPSHOT AT 0618 GMT: S&P 500 1,603.26 0.96 % 15.23 NIKKEI 13,213.55 2.96 % 379.54 MSCI ASIA EX-JP 497.75 1.78 % 8.72 EUR/USD 1.3026 0.12 % 0.0015 USD/JPY 98.05 0.34 % 0.3300 10-YR US TSY YLD 2.545 -- 0.00 10-YR BUND YLD 1.764 -- 0.00 SPOT GOLD $1,238.60 1.09 % $13.36 US CRUDE $95.95 0.47 % 0.45 > Asian shares extend gains as Fed, China fears subside > U.S. stocks climbs as GDP data eases fear of Fed pullback > Nikkei gains as China, Fed worries ease > TREASURIES-Despite weak 5-year note sale, prices end higher > Euro turns tail as ECB reinforces dovish slant > Gold gains 1 pct after sharp slide on U.S. GDP data > Copper up on US stimulus hopes; oversupply worries weigh > Brent rises for 4th day as U.S. stimulus worries ease COMPANY NEWS BANKIA, IAG Spanish nationalised lender Bankia is selling its 12.1 percent stake in International Airlines Group, worth $906 million, under pressure to raise cash through corporate stake disposals. EADS Germany's parliamentary committee on budget matters has approved the defence ministry's proposal to buy some helicopters from EADS unit Eurocopter, but the number has been reduced from what was originally proposed, several committee sources told Reuters on Wednesday. As a result, the contract's value has been reduced by around 200 million euros to 10.3 billion euros. KABEL DEUTSCHLAND Liberty Global is still evaluating its options for Kabel Deutschland, a source said, after the cartel office warned a deal would be more complicated from an anti-trust point of view than an acquisition by Vodafone. DEUTSCHE TELEKOM Dish Network Corp bowed out of a deal for mobile service provider Clearwire Corp. Several analysts have said Dish's best option may now be to make a bid for Deutsche Telekom's T-Mobile US Inc. VINCI The French construction and concessions company and Credit Agricole's life insurance unit are among candidates to buy a stake the French government is selling in Paris airports operator ADP, newsletter Agefi reported on Thursday. DAIMLER, BMW, VOLKSWAGEN Germany is working to derail a compromise deal to enforce stricter rules on carbon dioxide emissions for all new cars in the European Union from 2020, EU sources said on Wednesday. REPSOL Spanish oil major Repsol's board of directors unanimously rejected on Wednesday a $5 billion noncash compensation offer from Argentina for its expropriation of energy firm YPF, saying the offer does not reflect Repsol's loss. The Argentine energy company said later on Wednesday that the government never made an official offer to compensate Repsol. SUBSEA 7 The Oslo-listed offshore engineering group cut its 2013 profit estimate due to increased costs for its Brazilian offshore Guará-Lula project which is struggling with delays. Subsea 7, which has already warned of delays at major projects in Brazil, no longer expects full year adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to show progress compared to 2012 as a result. The estimated full-life project costs at Guará-Lula are now expected to be between $250 million and $300 million higher than earlier estimates, and the negative impact of the company's net result will be in that range, Subsea 7 said.