European stocks close: stocks closed higher as hopes for a deal between Greece and its creditors supported markets

Stock indices closed higher as hopes for a deal between Greece and its creditors supported markets. Greek Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President François Hollande Wednesday agreed to intensify the debt talks.

Gains were limited due to news that the International Monetary Fund (IMF) left the debt talks between Greece and its creditors in Brussels.

Standard and Poor's Ratings Services has downgraded the long-term sovereign credit rating on Greece to 'CCC' from 'CCC+' because of the absence of a deal between Greece and its creditors. The outlook is negative.

The head of the Eurogroup Jeroen Dijsselbloem said in Helsinki on Wednesday that a deal between Greece and its creditors can still be reached. But he warned that the time was running out.

Meanwhile, the economic from the Eurozone was positive. The French statistical office Insee said its consumer price inflation for France. The French consumer price inflation rose 0.2% in May, after a 0.1% increase in April.

On a yearly basis, the consumer price index climbed 0.3% in May, after a 0.1% rise.

Fresh food prices rose 6.4% year-on-year in May, while petroleum products prices dropped by 6.3%.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,846.74 +16.47 +0.24 %

DAX 11,332.78 +67.39 +0.60 %

CAC 40 4,971.37 +36.46 +0.74 %