Stocks: Monday’s review

European stocks rose for a fourth day, extending a six-month high, as euro-area finance ministers met in Brussels to discuss a Greek bailout and China cut banks’ reserve requirements to boost growth.

Finance ministers are meeting in Brussels to weigh the terms of new loans to Greece and a possible contribution by central banks. They also aim to start a bond exchange with private investors meant to stave off a Greek bankruptcy next month.

China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending. Reserve requirements will fall by 50 basis points effective Feb. 24, the People’s Bank of China said.

National benchmarks gained in 17 of the 18 western European markets. France’s CAC 40 Index advanced 0.9 percent, while Germany’s DAX index added 1.4 percent. The U.K.’s FTSE 100 Index rose 0.6 percent.

TNT Express surged 60 percent to 10.13 euros after Europe’s second-largest package-delivery company rejected a $6.43 billion takeover offer from UPS.

A gauge of European energy companies rose 1 percent as oil rose to a nine-month high in New York after Iran said it halted some crude exports and investors bet that fuel demand will increase.

BP added 2.2 percent to 499.9 pence. Petroleum Geo-Services ASA jumped 9.2 percent to 87.65 kroner, its highest since Aug. 2, after fourth-quarter earnings before interest, taxes, depreciation and amortization beat analysts’ estimates.

BHP Billiton Ltd. climbed 2.6 percent to 2,075.5 pence, while Rio Tinto Group added 2.2 percent to 3,702.5 pence.

U.S. financial markets are closed today in observance of Presidents Day