European stocks close: stocks closed higher on hopes for a deal between Athens and its lenders

Stock indices closed higher on hopes for a deal between Athens and its lenders. Greek Prime Minister Alexis Tsipras promised on Wednesday that Athens will provide credible reform proposals on Thursday.

An emergency summit of all 28 European Union members is scheduled to take place on Sunday.

Greece has submit a formal application for a three-year loan facility from the European Stability Mechanism (ESM) on Wednesday.

Meanwhile, the economic data from the Eurozone was better than expected. Germany's seasonally adjusted trade surplus increased to €22.8 billion in May from €21.5 billion in April, beating expectations for a decline to €21 billion. April's figure was revised down from a surplus of €22.3 billion.

Exports climbed at a seasonally and calendar-adjusted 1.7% in May, while imports rose 0.4%.

On an annual basis, exports were up 4.6% in May, while imports increased 3.0%.

Germany's current account surplus was at €11.6 billion in May.

The Bank of England (BoE) released its interest rate decision on Thursday. The BoE kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion. This decision was widely expected.

Analysts expect that the BoE will start to raise its interest rate in early 2016.

The minutes of the meeting will be released on July 22.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,581.63 +90.93 +1.40 %

DAX 10,996.41 +249.11 +2.32 %

CAC 40 4,757.22 +118.20 +2.55 %