UK stocks rebound from lowest level in month

Frankfurt - UK stocks rebounded from their lowest level in almost a month as gains in banks and energy companies outweighed further evidence of China’s economic slowdown.

HSBC Holdings led lenders higher, rising 1.6%. Premier Oil Plc led oil-and-gas gains, jumping 12% after saying that production is ahead of its 2015 guidance. BBA Aviation slid 4.5% after agreeing to buy Carlyle Group LP’s Landmark Aviation for $2.07bn. Glencore fell for a fifth day, losing 2.2%.

The FTSE 100 Index climbed 0.5% to 5 965.2 at 09:33. Shares slid yesterday amid a global selloff exacerbated by concerns over international growth prospects and a tumble in European carmakers following the emission-test cheating scandal at Volkswagen AG.

The broader FTSE All-Share Index added 0.4% today, while Ireland’s ISEQ Index slipped 0.6%.

China’s preliminaryPurchasing Managers’ Indexfrom Caixin Media and Markit Economics dropped to the lowest level in six-and-a-half years, missing estimates, and underscoring challenges facing the economy as its old growth engines splutter.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
16.43
-0.5%
Rand - Pound
19.78
+0.0%
Rand - Euro
16.91
+0.8%
Rand - Aus dollar
11.16
+0.6%
Rand - Yen
0.12
-0.5%
Gold
1,803.54
-0.3%
Silver
19.83
-0.8%
Palladium
1,933.50
-0.0%
Platinum
877.50
-1.1%
Brent Crude
113.50
+1.7%
Top 40
59,946
-1.6%
All Share
66,035
-1.5%
Resource 10
61,549
-3.3%
Industrial 25
80,780
-0.6%
Financial 15
14,599
-1.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot