European stocks close: stocks closed higher on news about a ceasefire between Russian separatists and Ukrainian forces

Stock indices traded closed higher on news about a cease-fire between Russian separatists and Ukrainian forces. Russian President Vladimir Putin said the agreement would mean the removal of heavy weapons and a full ceasefire would be in place on February 15.

Eurozone's finance ministers meeting has ended without an agreement on extending the Greece's bailout on late Wednesday. The next meeting is scheduled to be on Monday.

Industrial production in the Eurozone was flat in December, missing expectations for a 0.3% increase, after a 0.1% rise in November. November's figure was revised down from a 0.2 increase.

On a yearly basis, Eurozone's industrial production fell 0.2% in December, missing expectations for a 0.3% rise, after a 0.8% drop in November. November's figure was revised down from a 0.4 decrease.

The Bank of England (BoE) Governor Mark Carney said that the central bank could hike its interest rate sooner than expected.

The central bank expects the consumer price inflation in the U.K. to be at around zero in the second and third quarters this year before starting to increase towards the end of 2015.

The BoE said that it could lower interest rates below 0.5% or could expand its £375 billion asset buying programme if inflation remained below target for a longer period.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,828.11 +9.94 +0.15%

DAX 10,919.65 +167.54 +1.56%

CAC 40 4,726.2 +46.82 +1.00%