LONDON (ShareCast) - City sources predict the FTSE 100 will open up three points from Friday's close of 6,284, shrugging off last week's disappointing GDP data.

Sentiment was helped by market activity in the US where stocks finished with decent gains on Friday on the back of several better-than-expected corporate results, helping the S&P 500 to close above the key 1,500 level for the first time since December 2007.

This was the eight-straight day that the S&P 500 has registered gains, the longest winning streak since November 2004.

International economic announcements due out today include the EU producer price index, while in the UK today's agenda includes PMI construction data.

In company news, outsourcing firm Mitie said it was performing in line with management expectations with strong organic growth being driven by new and expanded contracts. It continues to expect total revenue growth to be higher in the second half than seen in the first half.

Anite, which provides software solutions to the international wireless and leisure travel industries, has acquired the Propsim channel emulation product set of Elektrobit Corp., a Finnish group. The product set is being bought for €31m (around £26m), which will be paid in full in cash on completion on January 31st 2013, on a cash free/debt free basis, from Anite's existing cash and banking facilities.

Wireless telecoms products group Filtronic said stronger than expected wireless sales more than compensated for the shortfall in broadband and it expects full year 2013 results to come in ahead of current market forecasts. The manufacturer of microwave electronics products said revenue from continuing operations rose to £16.4m for the six months ended November 30th 2012 compared to £10.5m the same time a year earlier.

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