European shares up after Greece deal, DAX hits new record high

Pan-European FTSEurofirst 300 index up 0.5%

European shares rose on Monday, with Germany's share index hitting a new all-time high and Britain's FTSE trading just below a record peak after euro zone negotiators agreed to extend Greece's financial rescue package.

Athens clinched a deal on Friday to avoid a banking collapse by accepting a conditional extension of its bailout programme. The accord requires Greece to submit by Monday a letter to the Eurogroup listing all the policy measures it plans to take during the remainder of the bailout period.

Britain's FTSE 100 index rose 0.2% to 6,931.21 points by 0807 GMT after, not far from its record peak of 6,950.60 scaled in late 1999.

Germany's DAX was up 0.8% at 11,139.20 points after rising to 11,158.55 - its highest ever level, while the pan-European FTSEurofirst 300 index was up 0.5% at 1,533.12 points.