Mexican stocks rise after US data, peso gains too

(Adds peso quote, bond, share moves)

MEXICO CITY, March 3 (Reuters) - Mexican stocks opened smartly higher on Monday after data showed manufacturing in the Unites States, Mexico's chief trading partner, was weak in February but in line with expectations.

The IPC stock index .MXX rose 1.02 percent at 29,214 points.

Dominant cell phone operator America Movil (AMXL.MX) gained 0.68 percent to 32.44 pesos. Its New York-traded shares (AMX.N) were 0.13 percent higher to $60.54.

Copper miner Grupo Mexico (GMEXICOB.MX) rose 3.30 percent to 77.30 pesos.

The U.S. Institute for Supply Management manufacturing index slipped to 48.3 in February, versus economists' median forecast for 48.0 and down from 50.7 in January.

The peso MEX01 MXN= gained 0.07 percent to 10.7085 per dollar.

In Mexican debt trading, the yield on Mexico's 10-year bond MX10YT=RR fell 1 basis point to 7.49 percent. (Reporting by Michael O'Boyle; Editing by James Dalgleish)