UK Stocks -- Factors to Watch on June 22

The UK blue-chip index closed 65.07 points, or 1.5 percent, higher on Friday at 4,345.93.

Financial bookmakers diverge on their calls for Britain's FTSE 100 index on Monday, seeing it down as much as 5 points or up as much as 11 points, as a late fall back on Wall Street on Friday is countered by gains in Asia and consolidation moves among heavyweight miners.

The UK blue-chip index closed 65.07 points, or 1.5 percent, higher on Friday at 4,345.93 buoyed by a recovery from commodity issues after recent falls.

Strength in commodity issues is expected to carry over to Monday with news that Xstrata is seeking a merger of equals with Anglo American likely to give the sector a shot in the arm, although weakness in metals and oil prices could temper the gains.

Meanwhile, asking prices for homes in most of Britain fell in June after four months of rises, but the annual rate of decline moderated to an eight-month low, property website Rightmove said on Monday.

Average asking prices of properties new to the market fell 0.4 percent this month, after rising 2.4 percent in May, Rightmove said. The annual rate of decline eased to 5.5 percent, its lowest since last October, from 6.2 percent in May.

No other important UK or U.S. economic data are due to be unveiled on Monday, indeed little of interest is due domestically all week, so the main macro focus will be focused across the Atlantic, most notably on the latest two-day Federal Reserve Open Market Committee meeting, which begins on Tuesday.

With interest rates at rock-bottom, no changes are anticipated from the Fed, though any comments on the progress of quantitative easing moves and signs of recovery in the economy would be welcomed by the market.

The FTSE 100 index will have a new complexion on Monday as the latest quarterly reshuffle takes effect, with London Stock Exchange, 3i Group, and Wolseley all making a return to blue-chip status after one quarter in the mid caps.