Wolseley help European shares inch up; eyes on Greece, inflation

LONDON, June 2 (Reuters) - European shares inched higher at the open on Tuesday, keeping within their recent range as investors awaited euro zone inflation data due later in the day and developments out of Greece's negotiations with it creditors.

British plumbing supplies group Wolseley (LSE: WOS.L - news) led gains, rising 1.9 percent at 0704 GMT after it posted a 12.4 percent rise in quarterly revenue, helped by strong performances in all of its key regions.

The leaders of Germany, France and Greece's international creditor institutions agreed late on Monday to work with "real intensity" in the coming days as they try to clinch a deal in debt negotiations with Athens.

"It (the market) is inside ranges every day although the ranges are quite wide," Justin Haque, a trader at brokerage Hobart, said.

"The real money is still sitting on the sidelines because God knows what's going to happen to Greece."

Investors will be looking out for German unemployment data at 0755 GMT and a euro zone inflation reading due just over an hour later. Inflation expectations for the currency bloc have picked up recently, partly due to rebounding oil prices.

The European Central Bank, which launched an asset purchase programme to stimulate inflation earlier this year, holds a policy meeting on Wednesday. (Reporting By Francesco Canepa)