News: RIO Mining, bank stocks lift London's FTSE 100

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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 .FTSE gained 0.8%, with Anglo American AAL.L , Rio Tinto RIO.L and Glencore GLEN.L among the top gainers.

The banking sub-index .FTNMX301010 rose 1.4%, tracking higher yields amid expectations of interest rate increases.

Two-year yields GB2YT=RR 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 .FTMC was up 0.9%, with travel and leisure stocks .FTNMX405010 leading gains.

Virgin Money UK VMUK.L 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 BAG.L 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.

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