PARIS, July 5 (Reuters) - European stocks are set to open higher on Friday, extending the previous session's sharp rally ahead of U.S. payrolls data that should shed light on the Federal Reserve's plan to start winding down its monetary stimulus. At 0625 GMT, futures for Euro STOXX 50, for UK's FTSE 100, for Germany's DAX and for France's CAC were up 0.1-0.3 percent. Payrolls data, due at 1230 GMT, is expected to show that employers have added 165,000 new jobs to their payrolls last month, according to a Reuters survey of economists, slightly below the 175,000 positions created in May, but not enough to shift the U.S. Federal Reserve away from its plan to start scaling back monetary stimulus later this year. Shares in European telecom gear makers will be in the spotlight after Samsung Electronics Co Ltd missed already modest expectations for its quarterly earnings guidance, deepening worries that its smartphone business may have peaked. European stocks surged on Thursday, with the euro zone's blue-chip Euro STOXX 50 index jumping 3 percent, after central banks in Britain and the euro zone said interest rates would remain low for the foreseeable future. The Euro STOXX 50 managed to cross above a key resistance level, the 200-day moving average at 2,634.39 points, sending a positive technical signal. The benchmark's next resistance level is at 2,673, representing the 50 percent retracement of the slide from late May to late June. "We're in a technical rebound, retracing the correction, and this is set to last a bit more so shorting this market is a pretty bad idea at this point," FXCM analyst Vincent Ganne said. "The Euro STOXX 50 could go up to as high as 2,680 points, and after that, I expect it to lose steam and stay range bound for a while." -------------------------------------------------------------------------------- MARKET SNAPSHOT AT 0623 GMT: LAST PCT CHG NET CHG S&P 500 1,615.41 0.08 % 1.33 NIKKEI 14,309.97 2.08 % 291.04 MSCI ASIA EX-JP 502.82 0.77 % 3.85 EUR/USD 1.2896 -0.13 % -0.0017 USD/JPY 100.35 0.32 % 0.3200 10-YR US TSY YLD 2.524 -- 0.02 10-YR BUND YLD 1.653 -- 0.00 SPOT GOLD $1,240.81 -0.67 % -$8.38 US CRUDE $101.02 -0.22 % -0.22 > GLOBAL MARKETS-Asia shares lifted by Europe rally, sterling sags > Nikkei bounces to 5-wk high on Europe's stimulus hopes; US jobs eyed > FOREX-Dollar shines as ECB recommit to easy money > PRECIOUS-Gold eases for 2nd day, U.S. jobs data eyed > METALS-London copper slips ahead of U.S. jobs report > Brent holds above $105, on track for biggest weekly gain in 1 mth COMPANY NEWS: TELECOM ITALIA Telecom Italia has ended contacts with Hutchison Whampoa Ltd on merging their Italian mobile businesses, preferring to focus on a plan to spin off its fixed-line network. CASINO The retailer said it had signed a $1 billion five-year credit facility with a group of 10 banks to refinance an existing three-year $900 million loan signed nearly two years ago. SAFT The French battery maker warned that it expects 2013 sales to be toward the bottom of its outlook provided in February, adding that full-year operating profit would be in the range of 90-95 million euros. GDF SUEZ The utility would consider a role in an expected French bid to build a nuclear-reactor project in Saudi Arabia, CEO Gerald Mestrallet said in an interview with business daily Les Echos published on Friday. SAP Co-Chief Executive Jim Hagemann Snabe brushed off criticism of the business software company's system of dual leadership, according to an interview published in Handelsblatt daily. ALTRAN The members of Altran's executive committee have teamed up with Altimus, a French joint-stock company they control and which is managed by Philippe Salle, to buy a 2.4 percent stake in Altrafin Participations, Altran's reference shareholder, controlled by Apax. FIAT Fiat unveiled a seven-seat version of its retro-style 500 model on Thursday, hoping to tap into demand for higher-end cars and stem losses from Europe's moribund mass-market.