European stock markets advanced on Monday, extending rally into a ninth straight session on the back of a Greece-fueled rally, which saw the debt-laden country on Monday reopen its banks after a three-week closure and repay loans to creditors.

The Stoxx Europe 600 index SXXP, -3.24% added 0.3% to close at 406.80, logging its longest winning run in 2015.

The gain built on a 4.3% weekly advance from Friday, which came after an action-packed week in Greece’s debt odyssey, when eurozone leaders reached an agreement with Greek Prime Minister Alexis Tsipras on tough austerity measures needed for a third bailout package.

Greek developments: The EU on Friday approved a bridge loan of 7.16 billion euros ($7.77 billion) to Greece, aimed at helping Athens meet a €4.2 billion debt payment to the ECB on Monday, as well as clear its arrears with the International Monetary Fund. Greece repaid about €6.8 billion to creditors, using the bridge loan, on Monday, according to reports.

The formal negotiations on a new bailout for Greece are expected to last for weeks, as the lenders hammer out final terms. The IMF and European creditors disagree on whether Greece should be granted any kind of debt relief, although German Chancellor Angela Merkel on Sunday said she was prepared to consider further debt concessions to Athens once the latest raft of economic reforms has been launched, according to an interview with German broadcaster ARD.

Greece’s banks reopened on Monday after a three-week closure, although the country’s stock market remained closed.

“Greece has taken a step in the right direction by opening the doors to its banks, but all is not well, as capital control controls remain strict,” said David Madden, market analyst at IG, in a note.

“The focus is now on next month’s repayments to creditors. The Greek debt saga has been on repeat for five years, so traders have learned what to expect, and they suspect this current calm between the storms won’t last long,” he added.

Other markets: Europe was mainly covered in a sea of green, with Germany’s DAX 30 index DAX, -4.37% up 0.5% to 11,735.72 and France’s CAC 40 index PX1, -3.73% rising 0.4% to 5,142.49.

The U.K.’s FTSE 100 index UKX, -3.37% added 0.2% to 6,788.69.

The euro EURUSD, -0.03% climbed to $1.0855, up from $1.0831 in late New York trade on Friday.

Movers: Shares of Aveva Group PLC AVV, -1.88% soared 27% after Schneider Electric SE SU, -4.26% said it plans to take a controlling stake in the U.K.-based engineering software provider. Schneider Electric rose 0.6%.

Julius Baer Gruppe AG BAER, -5.74% shaved off 1.4% after the Swiss bank said its managed assets were slightly depleted during the first half of the year because of the sharply strengthened Swiss franc.