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.