LONDON (Reuters) - The FTSE 100 index is seen opening 32 to 34 points higher on Monday, on track to snap a four-session losing streak, bolstered by rising metals prices.
Financial bookmakers expected the blue chip index to gain as much as 0.7 percent on opening, after it ended down 0.3 percent at 5,251.41 on Friday, the lowest close since Nov 10. The index is still up 52 percent from a March low.
In the absence of any UK data on Monday, investor's attention will be drawn across the Atlantic, with U.S. existing home sales data for October scheduled.
According to a Reuters poll of 29 economists, sales of previously owned homes are expected to climb to a seasonally adjusted annual rate of 5.70 million, the fastest pace since 5.73 million units were sold in July 2007 and up from 5.57 million units in September.
Later in the week, the focus will fall on the second estimate for UK GDP during the third-quarter period of 2009 -- due on Wednesday.
The initial estimate, released in October, showed Britain's economy contracted unexpectedly in the third quarter of this year, by 0.4 percent quarter-on-quarter, squashing hopes of an end to the recession and instead making the current recession the longest on record.
The leader of the opposition David Cameron and a senior government figure are expected to outline their economic plans at the CBI conference in London on Monday.
Stocks to watch on Monday:
MITIE GROUP (Mitie Group PLC)
The maintenance specialist posts first-half results.
NORTHUMBRIAN WATER GROUP (Northumbrian Water Group PLC)
The utility posts first-half results.
HYDER CONSULTING (Hyder Consulting PLC)
The infrastructure design consultancy posts first-half results.
PHOENIX IT
The computer services group posts first-half results.
RM
The educational software and services provider posts full-year results.
PROVENTEC
The steam cleaning and coatings technologies firm posts first-half results.
(Reporting by Tricia Wright)