European equity markets were set for a weaker open on Thursday, extending the previous session's losses after strong U.S. economic data increased inflation concerns and lifted expectations for additional interest-rate hikes. Treasury yields rose sharply, while a rebound in oil prices added to inflation risks amid continued uncertainty over U.S.-Iran negotiations. Investors in Europe were due to assess Germany's latest business sentiment survey and new French business and consumer confidence data. In corporate news, Schneider Electric agreed to acquire Bulgarian smart-home device maker Shelly Group in a transaction valuing the company at around $1.4 billion. Euro Stoxx 50 futures fell 0.6% and Stoxx 600 futures declined 0.5% in premarket trading.