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Falling euro boosts European stocks; Adecco up 6%

Falling euro boosts European stocks; Adecco up 6%

European equities closed higher on Wednesday, bouncing back heavy losses seen in the previous session, with stocks of exporting companies boosted by the falling euro.

Euro zone stock indexes enjoyed a broad rally across major bourses and sectors—with the exception of Greece.

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The German benchmark DAX index, the French CAC and the Italian FTSE MIB all closed over 2 percent higher, with the Spanish IBEX gaining around 1.5 percent.

European Markets: FTSE, GDAXI, FCHI, IBEX

The U.K., which uses sterling rather than euro, saw narrow gains on its benchmark FTSE 100, which ended around 0.2 percent higher.

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The Athens Composite closed more than 2 percent lower, as the battle between Greece's new left-wing government and its "troika" of bailout supervisors over the terms of its international bailout continue. The cash-strapped government has requested a four-month extension to its bailout, but rejects the troika's demands for austerity and structural reforms.

The euro fell below $1.06 on Wednesday for the first time in 12 years, extending its decline after the European Central Bank started its 1.1 trillion euro ($1.2 trillion) asset-buying program this week.

The decline has boosted indexes that heavily feature major exporters, such as the German DAX.

Read MorePrepare for euro-dollar parity—and soon

Stock watch

Adecco CEO sees improving French market

Best-performing stocks on Wednesday included Adecco, which closed well over 5 percent higher, after the Swiss multinational's fourth-quarter profit beat market expectations.

In addition, shares of Remy Cointreau ended around 4.4 percent higher after Goldman Sachs raised its outlook on the firm to "buy" from "neutral."

Renault shares also rose around 4 percent after a price target upgrade from Exane BNP Paribas.

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