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Shares are up on the news Greece is to get a funding package from European governments worth around €30 billion (£26.4 billion), Reuters reports.
By 08:06 BST the FTSEurofirst 300 had climbed 0.2 per cent to 1,104.11 points, with gains of as much as 2.2 per cent being recorded by Banco Santander, BNP Paribas and Unicredit.
And UBS edged even higher, jumping 2.5 per cent after announcing its first quarter pre-tax profit will total at least 2.5 billion Swiss francs (£1.53 billion).
There was a similar gain on the FTSE 100 stock market in London - which was up 0.25 per cent to 5,785.60 points at 08:48 BST - and Bernard McAlinden of NCB stockbrokers was quoted by the news agency as saying: "Worries that we might lurch back into a deflationary slump are lessening."
Posted by Greg Secker
