A Look At Economic Developments Around The Globe

The Associated Press

A look at economic developments and activity in major stock markets around the world Monday:

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SHANGHAI — China's purchasing managers index expanded for the eighth straight month in October to 55.2, adding to further signs the recovering economy is on firmer ground, a survey by a government-sanctioned industry group said Sunday.

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LONDON — U.K. manufacturers are increasingly optimistic about the recovery of the British economy, which is still mired in recession, a survey showed Monday.

October's Purchasing Managers Index for the manufacturing sector stood at 53.7, marking the first time since November 2007 there were more respondents seeing an improvement in business than a decline. Any figure above 50.0 indicates a net increase in activity.

New orders hit a 69-month peak, though the Chartered Institute of Purchasing & Supply said that was measured against weak comparables.

In European markets, Britain's FTSE 100 index of leading British shares closed up 1 percent, while Germany's DAX rose 0.3 percent and the CAC-40 in France was 0.9 percent higher.