By Avinash P

(Reuters) -British stocks edged lower on Friday, with the blue-chip FTSE 100 set to extend its fall in the previous session, as markets cooled after a record run earlier this month.

Investors were also cautious ahead of the Bank of England’s monetary policy decision next month and the government’s budget later in November.

The FTSE 100 and the domestically focused FTSE 250 were down 0.3% each, as of 1210 GMT.

Still, both indexes were on track for monthly gains, with the FTSE 100 touching record highs multiple times in October and the midcap index trading close to four-year highs.

Pharmaceuticals, financials and mining stocks were among top sectoral performers for the month, boosted also by a strong start to the earnings season from companies such as HSBC and GSK.

Signs o

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