European shares rise on Greek debt deal, led higher by banks
* Euro STOXX 50 up 1.8 pct, FTSEurofirst 300 up 1.9 pct
* Euro zone banking index rises 2.1 pct after Greek deal
* Mid-cap Alent surges 44 pct on M&A news (Updates with closing prices)
By Atul Prakash and Alistair Smout
LONDON, July 13 (Reuters) - European shares rose on Monday after euro zone leaders reached agreement on a bailout for Greece after all-night talks in Brussels.
Euro zone leaders made Greece agree to strict 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, some advised caution. The agreement must still pass parliaments in 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. "As we go through the details, however, it's very clear that there is a sizeable number of hurdles to jump over, especially in Athens." Continuación...