LONDON: European stock markets rallied on Monday after Greek lawmakers adopted further austerity measures, as Athens bids to unlock more bailout money.
The euro dipped against the dollar, with the greenback winning support from last Friday's US jobs data, dealers said.
"European equity markets are starting the new trading week on a positive note, receiving a boost from news out of Greece," said Markus Huber, trader at City of London Markets.
Around 0945 GMT, London's benchmark FTSE 100 stocks index was 0.8 percent higher compared with Friday's close.
In the eurozone, Frankfurt's DAX 30 index won surged 1.9 percent and the Paris CAC 40 jumped 1.4 percent in value.
Athens' main stocks index was up 1.0 percent after Greek lawmakers adopted overnight a controversial package of pension cuts and tax hikes.
It comes as eurozone finance ministers geared up for an emergency meeting Monday to hammer out fresh reforms for Athens to stave off another eurozone crisis.
"There is quite some relief where Greece is concerned," said Huber.
Across in Asia, Shanghai stocks tumbled almost three percent Monday on another disappointing Chinese trade report, but Tokyo was boosted by a weaker yen after Friday's jobs data reinforced expectations for more US interest rate hikes this year.
Beijing at the weekend released figures showing exports fell almost two percent last month while imports plunged nearly 11 percent, stoking fresh fears about the state of the world's number two economy.
China's official mouthpiece newspaper meanwhile said Monday that the country must bring an end to credit-driven growth to avoid a financial crisis.
The People's Daily article, which comes as leaders struggle to cap rising bad loans and other risks, could be a signal that Beijing is to rein in monetary stimulus efforts, analysts said.
Elsewhere, oil prices jumped after Canadian producers cut back output as huge wildfires spread in Alberta.
Crude market dealers were keeping watch also on Saudi Arabia, which at the weekend sacked its long-serving oil minister in a major government overhaul.
- Key figures around 0945 GMT -
London - FTSE 100: UP 0.8 percent to 6,172.99
Frankfurt - DAX 30: UP 1.9 percent at 10,060.44
Paris - CAC 40: UP 1.4 percent at 4,260.92
EURO STOXX 50: UP 1.7 percent at 2,985.23
Tokyo: Nikkei 225: UP 0.7 percent at 16,216.03 (close)
Shanghai: DOWN 2.8 percent at 2,832.11 (close)
Hong Kong: UP 0.2 percent at 20,156.81 (close)
New York - Dow: UP 0.5 percent at 17,740.63 (close)
Euro/dollar: DOWN at $1.1393 from $1.1403 Friday
Dollar/yen: UP at 107.88 yen from 107.14 yen
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