European stocks close: stocks closed higher ahead of the G20 summit

Stock indices closed higher as market participants are awaiting the G20 summit, which is scheduled to be in Shanghai on February 26 - 27. The International Monetary Fund (IMF) said in its report prepared for the summit that G20 countries should coordinate their stimulus measures to boost the global economy.

Meanwhile, market participants eyed the economic data from the Eurozone. Eurostat released its final consumer price inflation data for the Eurozone on Thursday. Eurozone's harmonized consumer price index dropped 1.4% in January, in line with expectations, after a flat reading in December.

On a yearly basis, Eurozone's final consumer price inflation rose to 0.3% in January from 0.2% in December, down from the preliminary reading of 0.4%.

Restaurants and cafés prices were up 0.10% year-on-year in January, tobacco and vegetables prices rose by 0.06% each, fuel prices for transport declined by 0.28%, heating oil prices decreased by 0.18%, while gas prices were down by 0.11%.

Eurozone's final consumer price inflation excluding food, energy, alcohol and tobacco increased to at an annual rate of 1.0 in January from 0.9% in December, in line with the preliminary reading.

The European Central Bank (ECB) released its M3 money supply figures on Thursday. M3 money supply rose 5.0% in January from last year, exceeding expectations for a 4.7% gain, after a 4.7 % increase in December.

Loans to the private sector in the Eurozone climbed 1.4% in January from the last year, missing expectations for a 1.5% rise, after a 1.4% gain in December.

The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Thursday. The revised U.K. GDP expanded at 0.5% in the fourth quarter, in line with the preliminary reading, after a 0.4% rise in the third quarter.

The growth was driven by a rise in household spending. Household spending rose 0.7% in the fourth quarter.

Business investment slid 2.1% in the fourth quarter.

On a yearly basis, the revised U.K. GDP rose 1.9% in the fourth quarter, in line with the preliminary reading, after a 2.1% gain in the third quarter.

In 2015 as whole, U.K. GDP rose 2.2%, in line with the preliminary reading, after a 2.9% growth in 2014.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,012.81 +145.63 +2.48 %

DAX 9,331.48 +163.68 +1.79 %

CAC 40 4,248.45 +93.11 +2.24 %