By Pranav Kashyap, Khushi Singh and Shubham Batra
(Reuters) – British equities recovered for a second straight session on Thursday supported by positive corporate updates, while the pound firmed against the dollar as traders lowered their expectations of any early rate cut by the Bank of England.
The benchmark FTSE 100 rose 0.4% for the day but underperformed its European peers.
The FTSE 250 midcap index snapped its five-day losing streak to gain 0.6%, driven by a 30.5% surge in Hipgnosis Songs Fund after Concord Chorus said it would acquire the music investor for $1.4 billion.
The pound appreciated by 0.2% against the dollar and was last trading at 1.246, while the 10-year UK bond yield ticked slightly higher to 4.273.
BoE policymaker Megan Greene said Britain’s latest wage growth and…
