The U.K. FTSE 100 Index is up 26.54 points, or 0.52 percent to trade at 5,168.99 points at 3:16 p.m. in London. The German DAX is also up 0.54 percent. EUR/USD is mostly unchanged since the opening of the London Stock Exchange.
Bank shares lead, with Barclays (LON:BARC) up 4.18 percent, Legal & General (LON:LGEN) is up 2.94 percent, and Royal Bank of Scotland (LON:RBS) up 1.09 percent.
Firms involved in commodities are also among the top gainers. Rio Tinto (LON:RIO) is up 2.62 percent and Anglo American (LON:AAL) is up 1.34 percent.
In a quiet trading day where markets in the U.S. and China are closed for holiday, market participants are intensely focused the Eurogroup meeting in Brussels later today and on Tuesday to decide on the details of Greece's aid.
The meeting of European Union Finance ministers is a regularly scheduled monthly meeting.
Eurostat, the statistical office of the European Union, is seeking information about certain derivatives contracts between the Greek government and Wall Street firms.
Various media reports have alleged that contracts between the parties have allowed Greece to understate its debt and budget deficit.
Follow us on twitter @IBTFinance