UPDATE 2-UK midcaps jump on rising rate cut prospects, upbeat earnings

* FTSE 100 up 0.1%, FTSE 250 up 1.1%
* Rate cut hopes triggered by BoE comments
* Progress in U.S.-China trade talks also supports
* Strong earnings reports boost midcap stocks
* Hiscox biggest FTSE faller after brokers cut targets

(Adds company news items, updates share moves)
By Shashwat Awasthi and Muvija M
Nov 7 (Reuters) - Shares in most domestically-focused
British companies rallied on Thursday after two Bank of England
policymakers unexpectedly voted for an interest rate cut,
fuelling hopes of a fresh boost to the economy, while upbeat
earnings updates also lent support.
The FTSE 250 .FTMC midcap index jumped 1.1% to just short
of a one-year high, with gains across all but two sectors.
The more internationally focused FTSE 100 .FTSE ,
meanwhile, rose 0.1% to a one-month high.
A sell-off in utilities and pharma stocks, which are
generally considered safer bets at times of uncertainty, weighed
on the FTSE 100 as investors turned to riskier assets.
While two Bank of England (BoE) policymakers voted to lower
interest rates to ward off an economic slowdown, others
including Governor Mark Carney said they would consider a cut if
global and Brexit headwinds do not ease.
That helped the FTSE 250 to its best one-day performance in
nearly a month.
Global markets welcomed news that Washington and Beijing had
agreed to cancel tariffs imposed during their months-long trade
war in different phases. London-listed miners .FTNMX1770 and Asia-focused banks
rose as a result.
Insurer Hiscox HSX.L , however, slid 10% on its worst day
in 17 years and was the biggest faller on the main bourse after
at least four brokerages slashed their price targets on the
stock by as much as 460 pence.
"We were left with the distinct impression that Hiscox is
preparing for a casualty catastrophe, the likes of which haven't
been seen since the turn of the century," Jefferies said
following analyst meetings with the company. RSA Insurance, on the other hand, climbed 4% after posting
strong profits.
Midcaps benefitted from a flurry of upbeat results, led by a
9% surge in Bank of Georgia BGEO.L following a third-quarter
update.
Other results-driven moves saw engineering firms IMI IMI.L
and Wood Group WG.L jump 7%, while insurer Lancashire LRE.L
and sweeteners firm Tate & Lyle TATE.L advanced roughly 5%.
Sub-prime lender Provident PFG.L added 3% after saying it
expected to add more customers at its home credit business,
which it has vowed to return to profitability after rejecting a
hostile takeover offer from smaller rival Non-Standard Finance
NSF.L in June.
On the downside, engineering firm Senior SNR.L dropped 8%
after warning of a bigger hit to from its aerospace unit from
the grounding of Boeing 737 MAX jets. Among smaller stocks, fashion group Superdry SDRY.L
climbed 9.1% after a half-year update and mall operator Intu
Properties INTUP.L , which sank 17% in the previous session on
the prospects of a cash call, rose 5%.