In Spain, the benchmark Ibex index closed unofficially down 0.7 percent.
Spanish retailer Inditex closed more than 1 percent higher, despite a profit fall for the first quarter. The Spanish retailer said the hit from currency depreciation would likely wane by the end of the year. Societe Generale said the results were "reassuring."
Oil price eyed
The World Bank on Tuesday evening cut its global growth outlook, blaming tensions in Ukraine and damped U.S. growth in the first half of 2014. It now forecasts the global economy will grow 2.8 percent this year, down from a previous forecast of 3.2 percent..
Read MoreWorld Bank: 'Prepare for next crisis now'
In Iraq, Islamist militants took control of the northern city of Mosul on Tuesday, according to Reuters. This followed four days of heavy fighting in the city and around the surrounding province of Nineveh. Reuters reported Wednesday afternoon that a further city, Tikrit, had also fallen into rebel hands.
Prime Minister Nuri al-Maliki has asked parliament to declare a state of emergency that would give him extraordinary powers to tackle the crisis, according to Reuters.
Read MoreOil spike eyed as Iraq violence escalates