erin mclaughlin, cnn, london. >>> let's take another look at the european stock markets now.ost two hours into the trading day. uk index shows the uk manufacturing sector is contracting. not as much as before. the ftse still playing catchup. mining stocks doing well there as a result of better than expected manufacturing data from china, another piece of european economic news, spain's jobless up to 4.42 million. a record in december. that is more than 22% of the working population. andrew? >> yeah. charles, you mentioned that china manufacturing number. certainly giving a nice pop to the markets in this part of the world today. hong kong up 2.5%. and the bse, the mumbai index by 2.6% after strong numbers coming out of india as well. that's it for this edition of "world business today." excuse me. i'm andrew stephens in hong kong. >> i'm charles hodson in london. you're watching cnn.

erin mclaughlin, cnn, davos. >>> no such thing as bad weather, only inappropriate clothing.l have good sleeping bags they should survive that. many fine people have lived permanently in igloos. let's have a look at how the european stock markets are moving now. we're about 90 minutes into monday's trading session. the gains that we saw at the start have faded away with the exception of the london ftse. we're looking at a fall of more than 0.5% for the xetra dax. edging down for the paris cac currant. the spanish central bank is predicting a 1.5% contraction in the country's economy this year. and the central bank does not think things will get much brighter into the future. it is forecasting growth of just 0.2% in 2013. so a very sluggish pickup after what will be a recession in spain this year. now let's have a look at asian stock markets, mostly closed on monday for the lunar new year, including hong kong and shanghai. i should wish people in china a happy new year. and tokyo and sydney, both ended the day with modest losses. thailand's s.e.t. and the sensex are both in th