Europe shares rally on reports of Greek debt proposal
* FTSEurofirst 300 up 0.5 pct, Greece's ATG up 4.2 pct
* UBS drops after warning on impact from Swiss franc
* Raiffeisen jumps after saying will cut exposure to Russia
By Blaise Robinson
PARIS, Feb 10 (Reuters) - European stocks rose on Tuesday, boosted by several press reports pointing to a possible debt agreement between Greece and its international creditors, with one report citing a six-month debt extension.
Athens's ATG index was up 4.2 percent, with Bank of Piraeus up 10 percent and Eurobank up 11.5 percent.
A report by MNSI, citing sources, said the European Commission would table a compromise proposal and that according to the plan Greece should ask for a six-month period during which it will discuss and agree with lenders all pending issues and a post-bail-out plan.
At 1245 GMT, the FTSEurofirst 300 index was up 0.5 percent at 1,487.91 points.
UBS bucked the trend, falling after it warned against the effects of the surging Swiss franc and negative interest rates in Switzerland and the eurozone. Continuación...