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* FTSE 100 up 0.8%, FTSE 250 adds 0.9%
Feb 1 (Reuters) - Mining and banking stocks lifted London's
FTSE 100 on Tuesday, with upbeat outlooks from Virgin Money and
A.G. Barr contributing to the positive sentiment.
The blue-chip FTSE 100 index gained 0.8%, with Anglo
American, Rio Tinto and Glencore among
the top gainers.
The banking sub-index rose 1.4%, tracking
higher yields amid expectations of interest rate increases.
Two-year yields on British bonds hit their
highest since 2011 amid expectations for a 50 basis point rate
hike from the Bank of England, its second increase in a row.
The domestically focused mid-cap index was up 0.9%,
with travel and leisure stocks leading gains.
Virgin Money UK rose 2.1% after the challenger bank
increased its annual net interest margin outlook, as it benefits
from higher-yielding lending on the back of rising interest
rates.
While A.G. Barr gained 2.0% after it raised its
annual profit forecast on Tuesday and said annual revenue was
set to top pre-pandemic levels after it enjoyed strong sales of
soft drinks like Irn-Bru.
(Reporting by Amal S in Bengaluru; Editing by Alexander Smith)
