May Day, originally a pagan festival to celebrate spring, is a holiday in honor of organized labor in much of the world. In recent years, the event has been a focal point of anti-capitalist demonstrations, with international companies such as McDonald's Corp. and Nike Inc. coming under attack.

``This is a celebration of peace and working-class sovereignty,'' said a London marcher, Will Podmore, 54 and a medical librarian. ``Whether you wear a shirt into work or a T- shirt, we're all workers.''

Financial markets were closed today in most of Europe and several Asian countries

Well over 10,000 workers from Maputo province and city marched through the city of Matola on Thursday, demanding improved wages, and an end to mass redundancies.

This was the first time in Mozambican history that the main celebrations of May Day had been shifted from Maputo to the neighbouring city of Matola. The decision makes sense in that Matola is an industrial city, containing the country's major concentration of heavy industry.

Far from reducing attendance at the march, the shift to Matola seemed to have boosted it. Workplaces that had never sent a contingent to marches in Maputo appeared with their banners and placards.

Radical British anti-capitalist activists had a hit-list of more than 50 "companies of mass destruction" in their sights on Thursday for May Day protests in London and elsewhere that police feared could turn violent.

Anarchist groups published the names and addresses of the firms -- mainly oil companies, arms manufacturers, banks and multinationals -- along with government departments such as the Ministry of Defense, on various Internet sites.

London May Day protests in previous years have turned ugly, particularly in 2000 when rioters ran amok.

"On May Day we propose a pre-emptive strike at the future that capitalism dictates for us, a future that can only offer us more exploitation, boredom, and submission," one Web Site called "Our MayDay" said.

Thousands of Germans took to the streets Thursday, joining traditional May Day marches. Trade unions are hoping to use the nationwide demonstrations to mobilize support against the government’s planned welfare reforms.

German Chancellor Gerhard Schröder was greeted with whistles and boos as he attended the main union rally in Neu-Anspach near Frankfurt. Normally such an event would be a friendly setting for Schröder, since the unions and his Social Democratic party (SPD) are historically political allies.

But unionists and the left-wing SPD members have been up in arms, ever since the chancellor announced his “Agenda 2010” package of social reforms last month. The proposals aim to cut Germany’s generous unemployment benefits and loosen job protection rules.

“I didn’t know that whistles counted as part of the unions’ arguments,” Schröder said as he fought to make himself heard over a chorus of boos and whistles.

Workers across the country celebrated Worker's Day today. In Johannesburg, history was made when government and the country's labour federations Cosatu, Nactu and Fedusa held a joint celebration.

Worker's Day is a global holiday for workers to celebrate historical victories in their pursuit for better working conditions. President Thabo Mbeki reminded workers in Johannesburg that in South Africa, worker struggles have historically been political.