China data, softer pound buoy FTSE; Ted Baker slips

Credit: REUTERS/Henry Nicholls

London's FTSE 100 rebounded on Monday after a near 1% drop in the previous session, with heavyweight components boosted by upbeat Chinese manufacturing activity and a weaker pound, while Ted Baker slid on overstated inventory.

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FTSE 100 up 0.5%, FTSE 250 up 0.2%

China data spurs miners, oil stocks

Pound weaker as Conservative lead narrows

Ted Baker falls to lowest in more than a decade

Dec 2 (Reuters) - London's FTSE 100 rebounded on Monday after a near 1% drop in the previous session, with heavyweight components boosted by upbeat Chinese manufacturing activity and a weaker pound, while Ted Baker slid on overstated inventory.

The FTSE 100 .FTSE advanced 0.5%, driven by gains in miners .FTNMX1770 and oil majors Shell RDSa.L and BP BP.L.

The gains owed much to surveys of China's factory activity, which beat forecasts with one showing the quickest pace of expansion in almost three years in November.

The pound softened after polls showed the Conservative Party's lead over the opposition Labour Party had narrowed further, stoking exporters such as BAT BATS.L to trade higher and leaving the mid-cap FTSE 250 .FTMC with modest gains of 0.2%.

Ted Baker TED.L slipped 10% to its lowest level since March 2009 after the fashion retailer said it may have overstated inventory by as much as 25 million pounds ($32.08 million).

($1 = 0.7794 pounds)

(Reporting by Shashwat Awasthi in Bengaluru, Editing by Sherry Jacob-Phillips)

((Shashwat.Awasthi@thomsonreuters.com; within UK: +1 646 223 3403; outside UK: +91 80 61822606, +91 80 37962606;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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