European shares get Greek hangover

* FTSEurofirst 300 down 0.2 pct in early trade

* Greek debt drama keeps confidence in check

* Profit warning hits Zodiac Aerospace (Paris: FR0000125684 - news) shares

* European equities still seeing weekly inflows

By Lionel Laurent

LONDON, June 12 (Reuters) - European stock markets woke up to a Greek hangover on Friday, with the latest twists and turns of debt negotiations keeping investor confidence in check despite market views that a compromise will be reached.

The aerospace sector was also a drag on markets ahead of the Paris Air Show next week, with Zodiac Aerospace shares slumping 5 percent after a profit warning linked to seat manufacturing delays. Airbus Group (Swiss: AIR.SW - news) was down 1 percent after its chief was cited as confirming 2015 goals.

European equities are nevertheless on track for their first weekly gain in three weeks as investors bet a recent bond-driven sell-off had gone too far. Weekly inflows into European equities remained in positive territory, according to broker data.

The pan-European FTSEurofirst 300 index was 0.2 percent lower at 0730 GMT, with most major benchmark indexes in the red. Greece's ATG share index was 0.6 percent lower.

European stocks had already lost some of their gains in late trading on Thursday after the International Monetary Fund announced that its delegation had left negotiations over Greece in Brussels and flown home because of major differences with Athens.

The state of the U.S. economy balanced somewhat the fears around Greece, traders said, following retail sales data that lifted the outlook for consumer spending.

"The fallout of the setback where Greece is concerned has been limited by the release of solid U.S. economic data pointing towards a strong rebound in economic growth," said Markus Huber, trader at Peregrine & Black.

Alstom (Paris: FR0010220475 - news) shares gained 1.6 percent after the company said reports of a statement of objections from the European Commission regarding its deal with GE did not prejudge the outcome of the inquiry into the tie-up. Alstom said it would continue to provide evidence on the possible impact of the deal.

At a time when a revival in mergers and acquisitions is buoying global equities, not all companies are promoting deal-making: German ATM maker Wincor Nixdorf fell 2.7 percent after its chief told a German newspaper he was not interested in the company being bought.

Meanwhile, UK clothing brand Ted Baker rose 1.6 percent after it reported a rise in first-quarter revenues.

Europe bourses in 2015: http://link.reuters.com/pap87v

Asset performance in 2015: http://link.reuters.com/gap87v

Today's European research round-up