LONDON, March 26 (Reuters) - European shares were likely to edge higher at the open on Tuesday, with investors taking advantage of recent drops to buy equities, although concerns that a strict bailout deal for Cyprus might set a precedent for Europe could limit gains. At 0728 GMT, futures for Euro STOXX 50 rose 0.4 percent to 2,597 points, while Germany's DAX, France's CAC and Britain's FTSE 100 were 0.2 to 0.4 percent higher. Charts for the Euro STOXX 50 futures showed the index remained in a short-term trading range, with support seen at around 2,560-2,570 and a resistance at around 2,680-2,690. "As this short-term trading market displays a slightly negative groundtone, following Monday's intra-day comedown, a continuation of the ongoing technical consolidation is on the agenda," Commerzbank wrote in a note. The FTSEurofirst 300 index fell 0.3 percent on Monday, led lower by financial stocks, after the head of the Eurogroup of regional finance ministers said the Cyprus deal could set a new template for the region. The index has fallen in six of the past 7 sessions. "The market has found some support. But the poor quality of the relief rally that we saw yesterday was a clear statement that people are not impressed with the Cyprus deal," Mike van Dulken, head of research at Accendo Markets. "This could mean that in future, bail-ins could be a part of bail-outs, which is scaring people given that we have potentially Spain and Italy waiting in the wings with their own problems." Focus will remain on the banking sector, which fell 1.9 percent on Monday on concerns about Cyprus, where banks will remain closed until Thursday, and even then subject to capital controls to prevent a run on deposits. Investors will keep an eye on a U.S. data for hints about the near-term direction. ICSC/Goldman Sachs release chain store sales data for the week ended March 23 at 1145 GMT, durable goods numbers for February are due at 1230 GMT and Redbook's weekly retail sales figures will be released at 1255 GMT. -------------------------------------------------------------------------------- MARKET SNAPSHOT AT 0734 GMT LAST PCT CHG NET CHG S&P 500 1,551.69 -0.33 % -5.2 NIKKEI 12,471.62 -0.6 % -74.84 MSCI ASIA EX-JP 541.11 0.43 % 2.34 EUR/USD 1.2882 0.24 % 0.0031 USD/JPY 94.37 0.23 % 0.2200 10-YR US TSY YLD 1.927 -- 0.01 10-YR BUND YLD 1.345 -- 0.01 SPOT GOLD $1,602.35 -0.16 % -$2.55 US CRUDE $95.11 0.32 % 0.30 * Asian shares, euro spooked by Cyprus bailout details * Nikkei falls on Cyprus bailout concern * Wall St ends lower on renewed Cyprus worries * London copper cuts gains as technical buying fades * Gold inches down, but euro zone worries cushion drop * Euro hovers near 4-month low as Cyprus deal stings * Brent slips towards $108 on worries over Cyprus * Prices gain as Cyprus comments spark worry over banks COMPANY NEWS BNP PARIBAS The French bank's Belgian arm plans to save an annual 300 million euros over the next three years by cutting its workforce by about 10 percent and closing 150 branches. KAZAKHMYS Kazakh copper miner Kazakhmys has taken a bigger than expected $2.22 billion impairment on the value of its 26 percent stake in London-listed rival ENRC . ROYAL DUTCH SHELL The Chinese government has approved a production-sharing contract with Royal Dutch Shell for the Fushun shale gas block in southwest China's Sichuan province, the company said on Tuesday. KINGFISHER Kingfisher, Europe's largest home improvements retailer, met forecasts with an 11.4 percent fall in year profit that reflected weather-hit sales, tough consumer markets and unfavourable foreign exchange movements. STMICROELECTRONICS The semiconductor company said on Tuesday it had signed a new 350 million euro ($451 million) loan agreement with the European Investment Bank to fund R&D investments in power, sensors and healthcare applications. LUFTHANSA The German airline is willing to accept more strikes if necessary, including the participation of its pilots, to get the flexibility it needs, Chief Financial Officer Simone Menne told reporters in New York. TELEFONICA Spain's Telefonica said on Monday it had mandated Goldman Sachs to sell all its treasury stock, equivalent to 2 percent of the company's capital, as it pushes to slash its debt.