Greek shares .ATG rose 6.8 percent in morning trade on Monday on hopes that Greece was closer to reaching a deal with its international lenders.

The banking sector .FTATBNK was the top gainer, jumping 15 percent.

The European Union has welcomed new proposals from Greek Prime Minister Alexis Tsipras as a "good basis for progress" at talks on Monday where creditors want 11-hour concessions to haul Athens back from the brink of bankruptcy.

"The chances for a deal today have risen after the Greek government's renewed proposal. Greek market's reaction to that is very positive," Athens- based Beta Securities trader Takis Zamanis said.