UPDATE 2-FTSE 100 reverses course on high bond yields, Stanchart leads losses

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Standard Chartered profit slumps 57%
* Anglo American rises on dividend boost
* FTSE 100 down 0.1%, FTSE 250 off 0.5%

(Updates to close)
By Shivani Kumaresan and Amal S
Feb 25 (Reuters) - London's FTSE 100 shed early gains to end
slightly lower on Thursday, as losses in defensive sectors due
to higher treasury yields outweighed gains in resource and most
banking stocks.
After rising as much as 0.7%, the blue chip FTSE 100 index
.FTSE fell 0.1%, with defensive sectors, such consumer
staples, healthcare and utilities at the forefront of losses.
But Standard Chartered STAN.L was the worst performer on
the FTSE 100, tumbling 6.2% after the impact of the COVID-19
pandemic more than halved its annual profit. Mining stocks, including Rio Tinto RIO.L , Anglo American
AAL.L , and BHP BHPB.L , were the biggest boosts to the FTSE
100, with oil heavyweights BP BP.L and Royal Dutch Shell
RDSa.L also providing support on strong crude and metal
prices. MET/L O/R
The domestically focused mid-cap FTSE 250 index .FTMC fell
0.5%.
"I think investors are a little uneasy with what we're
seeing in the bond markets in terms of rising yields and the
pace at which they're rising," said Craig Erlam, senior market
analyst at Oanda.
"We're still lacking a lot of direction until we start to
see signs of stabilisation or even a reversal in those yields."
Stimulus measures have helped the FTSE 100 recover 35% from
its March lows. But a corresponding rise in bond yields on
higher inflation expectations has weighed on stocks this year.
Yields on 10-year British bonds GB10YT=RR were at 11-month
highs, Refinitiv data showed.
Meanwhile, data showed that the cost of Britain's furlough
scheme reached 53.8 billion pounds ($76.2 billion) last month as
the country went back into a coronavirus lockdown.
In company news, Hikma Pharmaceuticals HIK.L shed 3.2%
even after issuing an upbeat outlook.
Aston Martin AML.L gained 6.8% after the luxury carmaker
said it expects to almost double sales and move back towards
profitability this year. Anglo American AAL.L gained 3.9% as it boosted dividends
after strong commodity prices helped the miner recover from
coronavirus disruptions suffered in the first half of 2020.