European stock exchanges closed Thursday's session above the flatline, with the positive sentiment mostly driven by corporate earnings in the region and better-than-expected German industrial orders.

Meanwhile, the Bank of England unveiled its most recent tightening strategy to combat inflation by raising the interest rate by 50 basis points, the bank's biggest increase in 27 years, as soaring prices are expected to stay high in the near term.

Frankfurt's DAX advanced by 0.55% at the closing bell, with Zalando SE surging by 13.10%. The CAC 40 gained 0.64% with Credit Agricole SA jumping by 5.07%. London's FTSE rose by 0.32% as Entain Plc. soared by 5.32%.

The euro gained 0.62% against the dollar, to sell at 1.02271 at 5:26 pm CET. At the same time, the pound sterling dropped by 0.09% compared to the greenback, going to 1.21390.