London pre-open: UK stocks to open higher after recent falls

30th Mar 2015 07:41

UK stocks are expected to rebound slightly on Monday morning, snapping a four-day losing streak ahead of a busy day for economic data.City sources predict the FTSE 100 will open 26 points higher than Friday's close of 6,855.02. The index has continued to fall since reaching a record closing high of 7,037.67 last Monday.In economic data on Monday, investors will be keeping an eye on mortgage approvals, lending and money-supply data in he UK, Eurozone consumer confidence, German inflation, US personal income and spending, US pending home sales and the all-important US personal consumption expenditures index."European indices are eyeing a strong start to the week, following a positive close in Wall Street on Friday and similarly strong session in Asia overnight," said analyst Craig Erlam from Oanda.US stocks managed to erase earlier losses on Friday after Federal Reserve chair Janet Yellen sounded a dovish tone, saying that any near-term policy tightening would only be very gradual. She said that the first rate hike may be "warranted later this year", pushing back expectations of a potential tightening in June.Meanwhile, Asian markets performed well after the governor of the People's Bank of China hinted at further measures to boost growth.Stocks to watchAfrica-focused gold producer Randgold Resources said it sees the potential for further non-organic growth, hinting at possible acquisitions in the near future amid a "stressed mining sector". Alongside its annual report on Monday, chief executive Mark Bristow said: "We will consider opportunities that are often generated by stressed markets and may well elect to play a part in the likely restructuring of the gold mining industry."Air China has selected Rolls-Royce Trent 1000 engines and long-term TotalCare support to power 15 new Boeing 787-9 Dreamliner aircraft. "This is a significant selection by a valued customer and we look forward to continuing to strengthen our relationship with Air China," said chief executive John Rishton.