FTSE 100 up 0.1
Both blue chip, midcap index set for weekly gains
Cranswick gains after upbeat annual profit forecast

Sept 26 Reuters UK shares edged higher on Friday, ahead of a key U.S. inflation print for signals on the scope of Federal Reserve39;s interest rate cuts, and the market was set for weekly gains as China39;s aggressive stimulus measures lifted mining and luxury stocks.

At 0710 GMT, the bluechip FTSE 100 index was up 0.1, while the domesticallyfocused FTSE 250 midcap index rose 0.4.

The personal goods sector led gains, while banks were the biggest decliners, down 0.5.

Investors now await the U.S. personal consumption expenditures PCE price index the Fed39;s preferred measure of inflation later in the day, with the size of the next rate cut in November still up for debate.

Both UK indexes were set for weekly gains, with FTSE 100 on track to rise 0.7 and the midcap index to gain 1.3, buoyed by hopes for a turnaround in the Chinese economy after policymakers this week announced numerous aggressive stimulus measures.

In the latest move, China39;s central bank on Friday lowered interest rates and injected liquidity into the banking system, with more fiscal measures expected to be announced before China39;s weeklong holidays starting on Oct. 1.

Mining shares have jumped this week as hopes for increased demand from China lifted metal prices, with an index of Londonlisted industrial miners rising more than 11 this week.

Similarly, gains in Chinaexposed…