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UPDATE 1-M&A, weaker pound thrust FTSE 100 to 11-month high

Shashwat Awasthi

* FTSE 100 up 1%, FTSE 250 up 0.4%

* Just Eat surges after all-share deal with Takeaway.com

* LSE gains on talks to buy Refinitiv

* 'No-deal' Brexit worries take down sterling

* Sports Direct sinks to lowest since Feb. 2011 (Adds news items, analyst comment, updates share prices)

July 29 (Reuters) - Britain's FTSE 100 rose to its highest in nearly a year on Monday, as shares of Just Eat and London Stock Exchange rallied on deal-related news, while exporter stocks benefited from a weaker pound amid heightened 'no-deal' Brexit fears.

The main index surged almost 1% by 0815 GMT. The mid-cap FTSE 250 shrugged off steep losses in shares of Sports Direct and corporate services company Sanne Group , as well as a drop in the pound, to advance 0.4%.

Just Eat soared 25% to 796.4 pence, on track for its best day ever, after agreeing to an all-share deal with rival Takeaway.com for an implied value of 731 pence a share.

"The deal gives Just Eat and its interim CEO the perfect exit, whilst also creating a company with the scale and strength to take on Deliveroo, Uber Eats and Amazon," Markets.com analyst Neil Wilson said.

London Stock Exchange surged nearly 15% to an all-time high after the company confirmed late on Friday it was in talks to buy financial data analytics provider Refinitiv Holdings for $27 billion, including debt.

Thomson Reuters, the parent company of Reuters, holds a 45% stake in Refinitiv.

The FTSE 100 handily outperformed the broader European market, which was held back by weak earnings. Investors were also tentative ahead of an expected interest rate cut by the U.S. Federal Reserve this week.

With the rate cut an almost foregone conclusion, the broader sentiment is more likely to be determined by whether the central bank drops hints of further policy easing.

Exporter stocks also supported the FTSE 100 as sterling slipped on fears that Britain could crash out of the European Union without a deal on Oct. 31, as Foreign Secretary Dominic Raab said the government was "turbo-charging" no-deal preparations.

On the mid-cap index, Sports Direct slipped 10% after its delayed results statement showed annual core earnings fell due to problems integrating House of Fraser and as it warned it could face a 674 million euro tax bill from Belgium.

Asset and corporate services company Sanne Group plummeted more than 31%, on course for its worst day ever, after cutting its annual earnings and margin forecast. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Shounak Dasgupta)