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* Commodity-linked stocks drive FTSE 100 higher
* Ocado tops blue-chip index
* Kingfisher drops on annual profit forecast downgrade
* FTSE 100 up 0.3%, FTSE 250 gains 0.4%
Sept 19 (Reuters) - UK's FTSE 100 index rose on Tuesday bolstered by commodity-linked stocks, while investors await domestic inflation data and key central bank policy meetings.
The exporter-heavy FTSE 100 rose 0.3% by 0820 GMT.
Precious metal miners rose 0.9% , while energy stocks climbed 1.0%, tracking higher gold and oil prices respectively.
Markets are awaiting monetary policy decisions from the U.S. Federal Reserve and the Bank of England (BoE) this week along with key UK inflation data, as investors bet for an end to their interest rate hiking cycle.
Money markets expect an 83% chance of the BoE hiking rates by 25 basis points to 5.5%.
Domestic annual inflation rate, due on Wednesday, is expected to show a rise to 7% in August from 6.8% in July, while core inflation, which excludes energy and food prices, is forecast to slow down to 6.8% from 6.9%, according to economists polled by Reuters.
"The issue that the BoE has still got is that wage inflation is still proving sticky and that is why the expectation that the rate would be moved up again by 25 bps," said Susannah Streeter, head of money and markets, Hargreaves Lansdown.
Shares of Kingfisher sank 6.6% to the bottom of the benchmark index, as the B&Q owner downgraded its annual profit forecast by 7%, after lower sales in France and Poland.
British online supermarket Ocado Retail, a 50/50 joint venture between Ocado Group and Marks & Spencer , maintained its full-year outlook as it reported a step-up in third quarter revenue growth.
Shares of Ocado gained 3.3%.
Hargreaves Lansdown Plc gained 0.4%, after the investment platform beat its annual profit estimates.
Mid-cap stocks rose 0.4%, boosted by a 5.8% jump in shares of TUI after the tour group confirmed its full-year outlook for the 2023 financial year, citing strong bookings in the summer and upcoming winter season.
(Reporting by Siddarth S in Bengaluru; Editing by Mrigank Dhaniwala and Rashmi Aich)