Updated at 1551 GMT

By Pranav Kashyap

Oct 23 (Reuters) -London's blue-chip stock index extended declines for a fourth straight session on Wednesday, dragged down by mining stocks as the upcoming UK budget and the U.S. presidential election prompted investors to shy away from risky assets.

The FTSE 100 .FTSE and the domestically focussed FTSE 250 .FTMC fell 0.6% each, with both the indexes closing just above one-week lows touched in the previous session.

Industrial metal miners .FTNMX551020 lost 1.6%, while precious metal miners .FTNMX551030 slipped 1.4% as prices of copper and gold slipped against a stronger dollar. MET/LGOL/

The prospect of another Trump presidency has been in focus for investors, pushing them to the sidelines until further clarity. Former U.S. President Donald Trump's policies include tariffs and restrictions on undocumented immigration, among other measures, that are expected to push up inflation. MKTS/GLOB

Meanwhile, the Bank of England meets in two weeks to take a call on interest rates, with the markets fully pricing a rate cut in November, and see a likely further rate cut in December.

Annual consumer price inflation eased to 1.7% in September, the lowest reading since April 2021, data showed last week.

Traders awaited remarks by BoE Governor Andrew Bailey due later in the day that could affect expectations around the central bank's easing path. Investor focus is also on flash PMI figures due on Thursday and the British budget on Oct. 30.

Among individual stocks, Reckitt RKT.L gained 3.9% after the Nurofen painkillers and Strepsils lozenges maker reported a smaller-than-expected fall in third-quarter underlying sales.

WPP WPP.L jumped 6.1% after the British ad group reported a better-than-expected rise in third-quarter organic revenue.

Reporting by Pranav Kashyap and Sruthi Shankar in Bengaluru; Editing by Shailesh Kuber, William Maclean

 For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L * For related news, click on - * UK hot stocks: HOT and GB Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/ * For company prices, click on - * Company directory: UKEQ By sector: FTAX * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR