UPDATE 2-FTSE rebounds as oil and mining stocks are lifted by U.S. and Chinese data

* FTSE 100 up 0.8%, FTSE 250 up 0.7%

* U.S. and Chinese data buoys sentiment

* Oil companies and miners boost main index

* Lookers slumps on profit alert and executive departures

* TP ICAP jumps on upbeat earnings report
(Adds news items, analyst comment, closing prices)

By Muvija M and Shashwat Awasthi

Nov 1 (Reuters) - Oil heavyweights and miners led the charge
on London's FTSE 100 on Friday as Chinese factory data and a
stronger than expected U.S. employment report helped the index
to bounce back from its worst session in a month.

The FTSE 100 advanced 0.8%, recouping almost all of
its more than 1% drop in the previous session, while the FTSE
250's 0.7% advance was its best day in more than two
weeks.

Renewed concern over the prospects of Washington and Beijing
settling their protracted trade dispute has stoked caution in
recent weeks. However, some nerves were settled by the data
showing that U.S. jobs growth slowed less than expected in
October and China's factory activity expanded at its fastest
pace in more than two years.

The mining sector enjoyed its best day on the
market in more than nine months, with Rio Tinto,
Glencore and Anglo American rising more than 3%
to top the main board.

Oil majors Shell and BP both gained 1.6% to
boost the blue-chip index further.

Sterling, meanwhile, was steady as investors brace for a
BBritish general election in December.

CMC Markets analyst David Madden suggested the pound was
finding support from opinion polls that showed the Conservative
party leading Labour.

"The Conservatives are viewed as being pro-business, so
traders are buying back into the pound," Madden said.

News-driven moves sent small-cap car dealership chain
Lookers plunging as much as 30% after its second profit
warning in less than four months and the departure of two top
executives.

The update dragged shares in rival Inchcape 2.7%
lower and Madden said that car dealerships would need to
"carefully manage" their inventory in the face of expected
subdued demand over the medium term.

Among mid-caps, the world's largest inter-dealer broker TP
ICAP jumped 6.5% after quarterly revenue benefited
from a bounce in trading activity this summer on global trade
frictions and Brexit uncertainties.

Home repairs provider Homeserve rose 4.6% after Peel
Hunt analysts raised its rating on the stock.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru
Editing by Arun Koyyur and David Goodman)