London--Europe's main stosck markets mostly rose Monday after eurozone ministers tentatively agreed to extend Greece's bailout by four months, but London fell on disappointing results from HSBC bank.
Frankfurt's DAX 30 gained 0.61 percent to 11,117.57 points and the CAC 40 in Paris added 0.59 percent to 4,859.46, while Athens was shut for a holiday.
On the downside, London's benchmark FTSE 100 slid 0.21 percent to 6,900.34 points in afternoon deals, hit after HSBC posted a 15-percent slump in annual net profits.
In foreign exchange activity, the euro slipped to $1.1320 from $1.1381 late in New York on Friday.
Greece's new anti-austerity government submitted a preliminary list of reform proposals to Brussels on Monday in a bid to secure a four-month extension to its lifeline debt bailout, a European source said.
Greece shifted course on Friday, and agreed to extend the current bailout instead of seeking a temporary finance deal while it comes up with a new programme, but eurozone finance ministers demanded new reform proposals.
If the measures fail to win the approval of Greece's international creditors, the country's safety net will collapse on Saturday leaving the government at risk of running out of cash, a run on banks and even a eurozone exit.
The rise in most European indices "...comes after news late Friday that Greece and the Eurogroup had reached a tentative agreement for an extension of its bailout for four months," said Mike van Dulken, head of research at trading firm Accendo Markets.
"The deal calls for Greek and European officials to agree to a series of reforms by the end of April, with Greece due to present a first list of reform measures -- still subject to validation by the International Monetary Fund, the European Central Bank and the European Commission -- today."
Asian equities picked up Monday on a strong lead from Wall Street, which surged to fresh records on Friday after Greece was granted a provisional bailout extension, easing worries over its future in the eurozone.
"The loan-extension deal announced on Friday is a small step in the right direction," said analysts at US bank Morgan Stanley in a research note.
"Yet there's little agreement on the reform measures that the Greek government will have to comply with.
"The chance of policy mistakes, political volatility and implementation risks remains quite high, and may rise."
- HSBC tops fallers -
The biggest faller on the London stock market was Asia-focused banking giant HSBC, which revealed that 2014 earnings plunged in a "challenging year" that was blighted by fines and compensation for mis-selling insurance products.
The bank, which is currently mired in a scandal over alleged tax-dodging at its Swiss private banking division, said profits after taxation sank 15 percent to $13.7 billion (12.0 billion euros) in 2014.
That compared with $18.7 billion in 2013 when its performance was also boosted by disposals. Pre-tax profits meanwhile tumbled 17 percent to $18.7 billion.
In reaction, HSBC shares dived 4.92 percent to 575.4 pence.
Also in the bank sector, Britain sold a 1.0-percent stake in state-rescued Lloyds Banking Group for £500 million ($769 million, 677 million euros), trimming the government's stake to just under 24 percent.
LBG's share price gained 1.0 percent to 78.98 pence.
The latest shares were sold above the average price that the previous government had paid for them, which was 73.6 pence.
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