Back in Europe, Germany's Bundestag, its lower house of parliament, voted in favor of a Greek bailout on Wednesday. A total of 454 German lawmakers were voted for the Greek bailout, 113 voted against, while 18 abstained.
Shares in Danish brewer Carlsberg plunged over 9 percent after the company reported weak results, which took a hit from weakness in Eastern Europe.
Another weak performer was Glencore, whose shares fell by 8.5 percent after the London-listed mining giant posted a 29 percent fall in first-half earnings on weak commodity prices.
Lonmin crashed a further 14.4 percent, with the platinum producer under relentless pressure amid mounting speculation that it could go to the market to raise capital via a rights issue.
At the other end of the Stoxx 600, Austria's Raiffaisen Bank reported market-beating second quarter profit which sent shares in the lender up as much as 8.9 percent.
In Asia, there were substantial falls in Chinese stock markets on Wednesday, as fears about the country's economy continued to perturb investors. However, markets resurfaced in the final hour of trading, with the Shanghai Composite cutting its losses from as low as 4.3 percent down, to rise 1.1 percent.