Following the positive comments made by the European Central Bank policymaker, the European shares are said to have seen growth on Thursday.

A rise of nearly 0.5% to 2,766.77 points was seen in the Euro Zone's blue chip index, which is the Euro STOXX 50 .STOXX50E. Having seen a growth in April and then a low in May, this increase is said to be in comparison with the Fibonacci retracement.

The prior losses seen by the banks like the Societe Generale, Credit Agricole and the Barclays, all was balanced after they emerged out to be the biggest gainers. These banks have added as much as 1.5 to 2.2%.

However, OECD said that it seems the global recovery is slowing more than the expectations, as growth in rich economies has been declining.

"The ECB and the Fed could start their stimulus exit programme by mid next year and until then we will be in a wait-and-see mode", said Heinz-Gerd Sonnenschein, Equity Strategist at Deutsche Postbank in Bonn, Germany.

He added that at this point of time, it is not clear that what should be exactly done. While, good numbers of Companies have been reported and they are still concerned about the economic condition in the US and southern Europe, and the market will improve very soon.