In individual stocks news, the best performer on the FTSE 100 was semiconductor and software design company ARM, which closed up over 3 percent after it reported a 25 percent rise in fourth-quarter pre-tax profit.
BT's shares finished up around 3.7 percent, while shares of Sky were down as much 3.8 percent as investors reacted to news that the two companies paid a record £5.136 billion ($7.7 billion) for live Premier League TV soccer rights for three seasons.
Sky paid more money to show certain high-profile soccer games, however.
Reckitt Benckiser was also one of the best performers on the index, up 3.3 percent, after the consumer goods maker announced a cost-cutting plan and reported a four percent rise in like-for-like sales in 2014.
Thomas Cook shares closed down 5.5 percent after the leisure tourism group reported tougher trading conditions in Europe in the first quarter.
Brent crude oil slipped below $55 a barrel on Wednesday, pressured by an industry report saying U.S. crude inventories had risen from a record high.
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