LONDON, June 22 (Reuters) - 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.
* GLOBAL MARKETS-Asia stocks tick up; caution ahead of Fed
* Nikkei edges higher, defensive shares give boost
* Wall St Wk Ahead: Stocks eye Fed, home sales
* FOREX-Yen gains as uncertainty stalks market ahead of Fed
* TREASURIES-Steady as investors brace for auctions, Fed
* Oil falls towards $69, bearish US gasoline mkt weighs
* Gold hovers around $933/oz, ETF steady
* METALS-Copper stretches losses on China demand woes
UK stocks to watch on Monday are:
XSTRATA, ANGLO AMERICAN
Xstrata wants talks with mining rival Anglo American about a proposed merger of equals worth about $68 billion, seeking increased scale and cost synergies, Xstrata said on Sunday.
Anglo is likely to resist the attempt by Xstrata to forge a larger mining group better able to compete with bigger competitors, sources said.
IMMUNODIAGNOSTIC SYSTEMS
The diagnostic testing kits producer reports full-year results.
KEWILL SYSTEMS
The software firm posts full-year results.
BRIXTON
The property group holds its annual general meeting.
CAPITAL & REGIONAL
The property developer hosts its annual general meeting.
PINEWOOD-SHEPPERTON
The firm studios group holds its annual general meeting.
TODAY'S UK PAPERS
Financial Times
Other business headlines
(Reporting by Jon Hopkins; editing by Simon Jessop)