BP Share News (BP.)

- Decision day for Greece, hopes of a bailout approval boost stocks.- PBoC cuts RRR for banks.- Miners, oil stocks perform well early on.Just a handful of stocks were in the red in early trading on Monday, as market sentiment was lifted by hopes that Greece can secure its next tranche of aid. Meanwhile, news of policy easing in China over the weekend has eased fears of a "hard-landing" for the world's second-largest economy.Eurozone finance ministers and Greek Prime Minister Lucas Papdemos are set to meet in Brussels this afternoon with hopes of securing the country's €130bn bailout. Austrian Finance Minister Maria Fekter told national TV yesterday that "it looks like" ministers will reach an agreement. "I don't think there will be a majority to go down any other avenue", she said.The issues on the table include not only the €130bn but also a deal with private sector lenders who will be forced to take a 70% cut in the loans they made to Greece. Another key issue is the target of getting Greece's debt-to-GDP ratio to 120% by 2020. This is the level which the International Monetary Fund believes is "sustainable", thus allowing it to contribute to the bailout.Late on Friday the People's Bank of China (PBoC) announced on its website its decision to cut its legal reserve ratio requirement (RRR) for large banks by half a percentage point. The new rate is 20.5%. That is the second such easing since the beginning of the financial crisis. While the central bank has long been expected to carry out such a decision the move may come as a small surprise to some observers, due to the exact timing chosen by authorities.RESOURCE STOCKS ON THE UPMetals and oil producers were performing well early on as Greek optimism and Chinese policy easing spurred buying of riskier assets. Mining giants Polymetal International, Antofagasta, Vedanta Resources and BHP Billiton were at the top of the risers list, joined by oil firms BP and Cairn Energy. Rio Tinto was higher after splashing out on the creation of the world's first automated long distance heavy haul rail network, which will service its Pilbara asset in Australia. Rio's contribution to the cost of the creation of the $518m system is $478m and is part of the group'sMine of the Future programme launched in 2008.Banking peers Royal Bank of Scotland and Lloyds were also on the rise. Five directors of Lloyds, including the previous Chief Executive, will be forced to pay back some of their 2010 bonus, reports the Telegraph. Lloyds has had to set aside £3.2bn to cover claims arising from the mis-selling of payment protection insurance (PPI), it's those losses which have prompted the so called "claw back" exercise. Defensive were out of favour with utilities companies National Grid, United Utilities and Severn Trent among the few stocks in the red.FTSE 250: CSR SURGES AS REVENUES RISEWireless technology and computer chip company CSR soared after reporting an increase in fourth quarter revenue, towards the top end of management expectations, following good momentum across its markets. The Cambridge-based firm said revenue rose to $244m for the final quarter to 30 December 2011 from $184.8m the previous year. However operating profit for the period fell to $0.6m from $8.1m before, which includes $41.1m of acquisition related charges. SEGRO, the European industrial property firm, rose after offloading a portfolio of five "non-core" UK industrial estates to Ignis Asset Management for £80.2m. The disposal of the five estates is in line with the group's strategy announced in November 2011 to focus its UK multi-let industrial portfolio on London and the South East. UK Commercial Property Trust (UKCPT), which has spent £60.51m on three of the estates, is also higher.Elsewhere, identity theft and credit card insurer CPP was suspended from trading as the Financial Services Authority (FSA) undertakes a review of certain past business sales and makes various changes to its renewals process. CPP is not happy about the FSA's request. Though it has acknowledged that a review in to past business practices is appropriate, the board of CPP thinks the FSA's intervention is disproportionate and threatens the viability of the business. High street sports retailer JJB Sports was a big mover, rising 20%, after saying that second half like-for-like sales were 7.6% down, an improvement from the 17.9% fall seen in the first six months of the year, helped by a strong Christmas.BCFTSE 100 - RisersPolymetal International (POLY) 1,096.00p +2.53%BP (BP.) 499.50p +2.16%Antofagasta (ANTO) 1,328.00p +1.84%Vedanta Resources (VED) 1,336.00p +1.83%BHP Billiton (BLT) 2,059.00p +1.78%Cairn Energy (CNE) 356.00p +1.69%Kazakhmys (KAZ) 1,143.00p +1.69%Royal Bank of Scotland Group (RBS) 28.05p +1.63%Rio Tinto (RIO) 3,679.00p +1.57%Lloyds Banking Group (LLOY) 36.00p +1.54%FTSE 100 - FallersShire Plc (SHP) 2,262.00p -0.70%Rolls-Royce Holdings (RR.) 796.00p -0.25%National Grid (NG.) 643.50p -0.23%Imperial Tobacco Group (IMT) 2,516.00p -0.12%United Utilities Group (UU.) 608.00p -0.08%Severn Trent (SVT) 1,550.00p -0.06%Unilever (ULVR) 2,062.00p -0.05%HSBC Holdings (HSBA) 577.60p -0.02%FTSE 250 - RisersCSR (CSR) 247.00p +8.48%New World Resources A Shares (NWR) 530.50p +4.53%Ocado Group (OCDO) 99.40p +3.49%Allied Gold Mining (ALD) 121.90p +3.13%Aquarius Platinum Ltd. (AQP) 142.60p +3.11%Go-Ahead Group (GOG) 1,336.00p +2.93%Cable & Wireless Worldwide (CW.) 27.91p +2.88%Heritage Oil (HOIL) 192.80p +2.23%Afren (AFR) 134.40p +2.13%Supergroup (SGP) 561.00p +2.00%FTSE 250 - FallersRathbone Brothers (RAT) 1,221.00p -3.93%JD Wetherspoon (JDW) 400.00p -2.77%Carpetright (CPR) 625.00p -2.57%Kier Group (KIE) 1,404.00p -2.57%PZ Cussons (PZC) 313.30p -2.55%Aveva Group (AVV) 1,656.00p -2.53%Restaurant Group (RTN) 302.40p -2.36%Redrow (RDW) 127.50p -2.00%Big Yellow Group (BYG) 297.30p -1.82%Inmarsat (ISAT) 475.00p -1.57%