Shares and the euro moved higher on Monday as investor appetite for riskier assets was boosted by expectations Greece will secure a second bailout deal and after a surprise policy easing by China.

Trading is expected to be subdued, with U.S. markets closed for a holiday, potentially exaggerating any price moves.

Euro zone finance ministers are expected to approve a 130 billion euro rescue for Greece later on Monday that should remove the risk of disorderly default next month, though doubts persist over whether Athens can fully meet its commitments under the programme.

We expect Greece to make headway towards receiving the funds needed to avoid a near-term default and for markets to remain constructive on risk while keeping an eye on the downside, Barclays Capital said in a note.

The euro gained 0.3 percent to $1.3197, having risen as high as $1.3238 in Asian trade. Global stocks as measured by the MSCI world equity index <.MIWD00000PUS> were up 0.4 percent and the FTSEurofirst index of top European companies <.FTEU3> opened 0.5 percent up at 1088.45 points.

China's move on Saturday to cut the amount of cash banks must hold in their reserves, boosting lending capacity in an effort to spur the world's second-biggest economy, sparked a broad rally in riskier assets in the Asian session, with the yen at a 6-1/2-month low against the dollar at around 79.41 yen.

(Editing by John Stonestreet)