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* Banks track benchmark bond yields higher
* Subprime lender Amigo drops as losses widen
* Augean surges on takeover deal
* FTSE 100 up 0.3%, FTSE 250 adds 0.4%
(Updates to close)
By Shashank Nayar and Amal S
Aug 25 (Reuters) - London's FTSE 100 rose on Wednesday,
lifted by gains in financial and travel-related stocks, while
investors assessed risks from rising COVID-19 infections
globally and easing economic growth.
The blue-chip FTSE 100 ended 0.3% higher, rising for
a fourth straight session, with HSBC Holdings, Lloyd's
Group, Flutter Entertainment, Standard
Chartered and Ocado Group among the top
performers.
The banking sector climbed 2% as it tracked
gains in benchmark bond yields, which rose for a
third day, while travel stocks extended gains for
a fourth session.
"The travel sector continues to enjoy some strength amid
hopes for the easing of restrictions with a dip in the pound
also helping to lift the UK's flagship index," said Danni
Hewson, financial analyst at AJ Bell in a note.
Global equity markets were lacklustre as investors shifted
their focus towards the U.S. Federal Reserve's annual symposium
on Friday for any hints regarding the timeline for Fed's
tapering of asset purchases.
The FTSE 100 has risen nearly 29% from its October 2020 lows
as the economy starts to recover from pandemic-related
lockdowns.
But fears that the recovery could stall as central banks
begin to discuss tapering their asset purchases have weighed on
the pace of growth.
Limiting Wednesday's advances were consumer goods makers
including Unilever and Reckitt Benckiser
, and supermarket group Sainsbury's, all down
between 0.3% and 1.2%.
The domestically focussed mid-cap index ended 0.4%
higher after touching a record of 24,058.93.
Waste management firm Augean surged 17.5% after it
said it had agreed to a buyout offer of 341 million pounds ($468
million) from a group affiliated to London-based investment
manager Ancala Partners LLP.
"This continuing global corporate raid suggests bidders
still see a lot of untapped value in the UK market," Hewson
said.
British subprime lender Amigo dropped 4.5% after it
said its losses increased substantially in the last financial
year.
In signs of steady interest for UK corporates, activist
investor Cevian Capital pushed its stake in insurer Aviva
above 5%, according to a stock exchange filing.
(Reporting by Shashank Nayar and Amal S in Bengaluru; Editing
by Subhranshu Sahu)
