European stocks closed higher on average Thursday after the European Central Bank (ECB) announced a massive new bond-buying program Thursday and the United States offered hints that it would ease tariffs against Chinese imports.

By the close of play, the European Stoxx 600 had risen by two tenths of one percent.

The ECB’s quantitative easing program will entail 20 billion euros per month of asset purchases for as long as it deems necessary. President Mario Draghi also announced that the central bank would cut its main deposit rate by 10 basis points to -0.5%, in line with expectations.

Source : CNBC