European shares rise on Greek debt deal, led higher by banks

lunes 13 de julio de 2015 09:58 GYT

* Euro STOXX 50, FTSEurofirst 300 both up 1.6 pct

* Euro zone banking index rises 2.3 pct after Greek deal

* Mid-cap Alent surges 44 pct on M&A news (Adds quote, detail, updates prices)

By Atul Prakash and Alistair Smout

LONDON, July 13 (Reuters) - European shares rose on Monday after euro zone leaders reached an agreement to move forward with a bailout loan for Greece to avert bankruptcy after all-night talks in Brussels.

Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euro ($94.95 billion) bailout to keep the country in the single currency.

The Athens Stock Exchange has been closed since June 26, but Greek equity assets listed in the United States climbed on the news.

While markets cheered the fact that Greece looks set to remain in the euro zone, there was still some caution, with the deal yet to be passed by the parliaments of Greece, Germany and elsewhere.

"We're seeing a relief rally ... and a shift back into a modest 'risk-on' mood as some of the worst fears have been removed," said Andrew Milligan, global head of strategy at Standard Life Investments.   Continuación...