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LONDON (AFP) – Europe's main stock indices mainly rose on Monday following a similar picture in Asia on the back of strong Chinese manufacturing data and ahead of a busy week for financial markets.

London's FTSE 100 index of leading shares climbed 0.26 percent to 5,689.89 points in late morning trade.

Frankfurt's DAX 30 gained 0.24 percent to 6,616.42 points while in Paris the CAC 40 dipped 0.02 percent to 3,832.61.

The Stoxx 50 index of top eurozone companies nudged down 0.09 percent to 2,840.84 points.

"This is a big week for the financial markets whichever way you look at it," said Simon Denham, head of trading firm Capital Spreads.

"Mid-term elections in the US tomorrow, then the FOMC rate announcement, Bank of Japan will follow as well as the Bank of England and European Central Bank.

"If that wasn't enough we end the week with US employment data, the data release of all data releases."

Ahead of Wednesday's US Federal Reserve rate call, traders digested data showing that Chinese manufacturing activity hit a six-month high in October, in a sign that recovery in the world's second-biggest economy has consolidated.

The HSBC China Manufacturing purchasing managers index (PMI) rose to 54.8 in October from 52.9 in September as production and new orders continued to rise.

A reading above 50 means the sector is expanding, while anything below 50 indicates a decline.

"The markets are starting the week on a positive bias as manufacturing data from China has given the FTSE a boost," said Denham.

In company news, the share price of Ryanair fell 2.0 percent to 4.0 euros despite an announcement from Europe's biggest no-frills airline that net profits climbed during its first half thanks to higher passenger numbers and ticket prices.

Profit after tax jumped 13.5 percent to 424 million euros (592 million dollars) in the six months to the end of September compared with the equivalent period in 2009, the Irish carrier said in an earnings statement.

"Volatility could really pick up this week with so much important economic data to be released and the European earning season getting into full swing," added Denham.

"Clients seem to be just sitting on the sidelines for now, unsure of whether the recent retracement in equities is offering up a good buying opportunity or there maybe a better buying opportunity in a week's time."

Meanwhile weeks of speculation and nervous trade on Wall Street will reach an apex in the coming days with a Federal Reserve meeting expected to yield a new economic stimulus plan and key elections.

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