FTSE 100 down 0.1
Playtech leaps after hiking core profit forecast
Phoenix Group down on halting SunLife sale

Sept 16 Reuters London39;s bluechip stock index edged lower on Monday as a rising British pound weighed on exportoriented companies, while investors focussed on a week of key central bank rate decisions.

The benchmark FTSE 100 was down 0.1 after notching its best week since midAugust on Friday as investors raised their bets of a more aggressive Federal Reserve rate cut on Wednesday.

Midcap and smallcap stocks shed 0.1 and 0.2, respectively.

The pound gained 0.3 to its highest in more than a week, while gold touched a record high.

However, UK miners slipped 0.2, after a 6.8 leap in the previous session, on downbeat industrial production data from top consumer China.

With global growth concerns back in focus, the week39;s key event is the Fed39;s rate decision, with the market weighing up the odds of a 25basispoint cut versus a 50bps cut.

After weeks of backandforth due to mixed economic data, traders now see a 61 chance of a heftier 50bps cut, per the CME39;s FedWatch tool.

The Bank of England, which meets this Thursday, is expected to leave rates on hold and investors will primarily watch for clues on BoE39;s path for the rest of the year and updates on the pace of its bond sales.

Among stocks, insurer Phoenix Group fell 2.3, most on the FTSE 100, after halting the sale process of its SunLife business.

Playtech jumped 8.5 after the gambling technology…