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FTSE 100 rises ahead of key central bank meetings



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FTSE 100 up 0.1%, FTSE 250 up 0.2%

Playtech leaps after hiking core profit forecast

Phoenix Group down on halting SunLife sale

BoE rate cut helps boost UK housing market but concerns remain

Sterling gains ahead of UK inflation data, BoE meeting this week

Fed monetary policy meeting, due Wednesday

Updated at 1545 GMT

By Khushi Singh and Lisa Pauline Mattackal

Sept 16 (Reuters) -London's benchmark stock indexes ended higher on Monday, led by gains in automobile and parts shares, while investors focussed on a week of key central bank interest rate decisions.

The benchmark FTSE 100 .FTSE was up 0.1%; while the mid-cap FTSE 250 .FTMC inched 0.2% higher. Both indexes marked gains for the third consecutive session.

The automobile and parts .FTNMX401010 index touched its highest levels in two months, adding 6.1%, as shares in TI Fluid Systems TIFS.L rose 14.1% after the automotive fluid storage maker rejected ABC Technologies' revised buyout proposal.

The travel and leisure .FTNMX405010 index advanced 0.6%, tracking 15.1% gains in Playtech Plc PTEC.L after the gambling technology firm said it expects 2024 adjusted core profit to be slightly ahead of market expectations.

The life insurance .FTNMX303010 sector was the bottom performer, slipping 0.9% after insurer Phoenix Group PHNX.L fell 5.3%, the most on the FTSE 100, after halting the sale process for its SunLife business.

The pound GBP=D3 rose against the dollar on Monday, ahead of this week's UK inflation data and central bank meeting.

The Bank of England, which meets this Thursday, is expected to leave rates on hold and investors will primarily watch for clues on the BoE's path for the rest of the year and updates on the pace of its bond sales. 0#BOEWATCH

With global growth concerns back in focus, the week's key event is the Federal Reserve's monetary policy meeting on Tuesday and Wednesday.

After weeks of back-and-forth due to mixed economic data, traders now see a 61% chance of a heftier 50-bps cut on Wednesday, per the CME's FedWatch tool.

Among individual stocks, Marks and Spencer MKS.L climbed 2.9%, hitting its highest level since June 2017 earlier in the session. Both Barclays and Jefferies raised their price target on the retailer's stock.

Britain's housing market recovered momentum in September, as the BoE's first rate cut in more than three years and greater political certainty after July 4's election boosted activity.



Reporting by Khushi Singh, Lisa Mattackal in Bengaluru; Editing by Sumana Nandy

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