From Morrison Securities Pty. Ltd:

U.S. MARKETS

The U.S. dollar fell to a near two-week low against the euro Monday on hopes European finance ministers would agree on conditions for another loan for Greece.

The euro also gained against the yen after Germany's finance minister voiced confidence an accord would be reached at Monday's meeting in Brussels on a new EUR130 billion package for Greece.

The U.S. dollar weakened against most other currencies after China cut reserve requirements for lenders, increasing investor appetite for riskier assets. The yen, however, declined to a six-month low against the U.S. dollar after Japan reported its biggest monthly trade deficit on record.

The ICE dollar index, which measures the greenback's performance against a basket of six other global rivals, fell to 78.973 from 79.334 late in North American trading Friday.

The euro fetched $1.3243, up from $1.3156 late Friday. U.S. markets were closed Monday for the Presidents Day holiday. Euro-area finance ministers met in Brussels Monday to determine whether Greece would get further help seen as needed to avoid a messy default in a matter of weeks.

Analysts expect the ministers would sign off on the deal, but also cautioned the accord wasn't likely to resolve all of Greece's economic troubles.

EUROPEAN STOCK MARKETS

European stock markets ended higher Monday, led by banks amid hopes for an agreement on a long-delayed Greek bailout, while resource stocks were boosted by China's decision over the weekend to ease reserve requirements for the country's banks.

The Stoxx Europe 600 index closed 0.8% higher at 268.16, its highest finish since July, extending gains into a fourth consecutive day. The French CAC 40 index added 1% to 3,472.54, the U.K.'s FTSE 100 index rose 0.7% to 5,945.25, and Germany's DAX 30 index was up 1.5% at 6,948.25.

The biggest gainer in the index, TNT Express NV, surged 60.5% to EUR10.18 after the firm rejected a EUR4.9 billion takeover bid worth EUR9 a share from United Parcel Service Inc. last Friday. Bloomberg News reported that TNT wants a higher offer, but TNT declined to comment Monday. PostNL NV, which holds a 29.9 stake in TNT, rallied almost 50%.

Banks jumped, fuelled by optimism that euro-zone finance ministers will approve a EUR130 billion bailout package for Greece and clear the way for a debt-swap deal with private creditors at a meeting in Brussels in the afternoon.

The Athens General Index rose 0.2% to 825.75, with shares of National Bank of Greece SA up 0.7%. Banca Popolare di Milano SCARL jumped 8.2% and BBVA SA added 2.9% after being upgraded to outperform from neutral by Credit Suisse. In Paris, Credit Agricole SA advanced 2.5%, BNP Paribas SA gained 0.8% and Societe Generale SA climbed 0.6%.

Oil firms also gained as oil futures for March delivery rose above $105 a barrel in electronic trade. BP PLC and BG Group PLC rose 2.1% and 1.8%, respectively, in London. Resource stocks rose after the People's Bank of China Saturday cut the reserve requirement ratio for banks by half a percentage point to spur lending. Antofagasta PLC added 2.2%, BHP Billiton PLC rose 2.7%, Rio Tinto PLC increased 2.3% and Polymetal International PLC was up 1.4%. German banks Commerzbank AG and Deutsche Bank AG rose 3.2% and 2.2% respectively. BASF SE gained 2.7% ahead of its results Friday.

ASIA-PACIFIC STOCK MARKETS

Asian stocks mostly rose Monday as China relaxed its policy to ease tight money conditions, with investor sentiment also buoyed by hopes European leaders will sign off on a second bailout package for Greece.

Japanese shares ended at a six and a half month closing high, with the Nikkei Stock Average jumping 1.1% to 9,485.09. China's Shanghai Composite Index advanced 0.3%, South Korea's Kospi inched up 0.1% and Taiwan's Taiex added 0.8%. Hong Kong's Hang Seng Index dropped 0.3% to 21,424.79.

Regional steel makers advanced, with JFE Holdings spiking 8.4% and Nippon Steel Corp. gaining 5.2% in Tokyo, while Posco added 0.7% in Seoul.

Several energy producers gained as oil prices rallied in electronic trading. Inpex Corp. rose 3.8% and JX Holdings climbed 1% in Tokyo. Exporters posted strong gains in Tokyo as the Japanese yen extended its recent weakness. Honda Motor rose 0.9%, Toshiba climbed 2.4%, and Sony was 3.6% higher ahead of the U.S. launch of its high-end PlayStation Vita hand-held gaming console next week.

In Hong Kong, investors took profits in some recent gainers, with Esprit Holdings falling 4.1% and Sun Hung Kai Properties Ltd. losing 0.7%. Shares of refining giant China Petroleum & Chemical dropped 5.5% amid rising global crude-oil prices.

Shares of Foxconn Technology Group's listed firms fell after the contract electronic product manufacturing group said Friday that its assembly-line workers in Shenzhen, China, would receive pay raises of roughly 16% to 25%. Foxconn International Holdings lost4.9% in Hong Kong, while Foxconn arm Hon Hai Precision Industry fell 1.8% in Taipei.

COMMODITIES

Base metals closed higher on the London Metal Exchange Monday, benefiting from fresh monetary easing in China, optimism over the outlook for Greece and an upbeat assessment on the German economy.

LME three-month copper ended the PM kerb session at $8,235.50 a metric ton. It was up 0.8% on Friday's close. While trading was more subdued than usual thanks to the Presidents' Day holiday in the U.S., with rallies widely viewed as selling opportunities, the copper market found support around $8,200/ton and stayed in positive territory throughout the European day.

Broker Sucden Financial said Saturday's 50 basis-point cut to banks' reserve requirement ratio from the People's Bank of China, the second such cut in three months, was a key driver for prices.