European stocks up as US takes a break for Labour Day

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A roundup of trading on major world markets:

NEW YORK – The markets were closed for a public holiday.

LONDON – Europe’s main stock markets rose amid growing hopes the European Central Bank (ECB) could unveil a bond-buying program later this week, while investors digested poor manufacturing data.

At close on Monday, London’s FTSE 100 index of top companies rose 0.82 per cent at 5,805.34 points, Frankfurt’s DAX 30 added 0.63 per cent to 7,014.83 points, while Paris’s CAC 40 rose by 1.19 per cent to 3,453.71 points in light trading.

In Milan, shares rose 1.10 per cent and in Madrid gained 0.18 per cent, despite a bailout request to Spain’s central government from region Andalusia.

The euro rose to $US1.2598 on Monday, from $US1.2576 late in New York on Friday.

HONG KONG – Asian markets mostly rose after more weak Chinese manufacturing data fuelled hopes for a fresh round of monetary easing by Beijing.

The downbeat figures out of China added to expectations of more stimulus measures in the United States following strong hints from Federal Reserve chief Ben Bernanke on Friday.

Hong Kong on Monday added 0.39 per cent, or 76.64 points, to 19,559.21 and Shanghai ended 0.57 per cent higher, adding 11.63 points to 2,059.15 while Sydney gained 0.31 per cent, or 13.6 points, to end at 4,329.7.

Seoul put on 0.40 per cent, or 7.59 points, to 1,912.71 but Tokyo slipped 0.63 per cent, or 56.02 points, to 8,783.89

Fears over growth in China on Saturday were stoked when the official purchasing managers’ index (PMI) of manufacturing activity fell to a nine-month low of 49.2 in August from 50.1 in July, owing to slumping demand in the key export markets of Europe and the United States.

On Monday a PMI reading from HSBC showed activity fell to its lowest level since March 2009 in August.

The final reading of the British banking giant’s index slid to 47.6 from 49.3 in July.

WELLINGTON – The NZX 50 Index rose 2.35 points, or 0.1 per cent, to 3669.03.