When it comes to European sectors, autos posted the best gains, closing up 1.69 percent overall, following two key stock rating upgrades. Barclays raised its rating for Fiat Chrysler to "overweight" from "equal weight", while Goldman Sachs upgraded its rating for Daimler to "buy" from "neutral". Both firms closed up above 3 percent.
Finland's Orion was one of the best performers, finishing up 5.72 percent after Nordea Equity Research raised it to a "buy" rating, and lifted its target price on the stock.
In the meantime, Micro Focus ended on a high, closing up 6.16 percent after a well-received third quarter update. Fellow tech stock Software AG also rose 4.8 percent, after Kepler Cheuvreux raised its target price on the stock.
On the opposite end of the spectrum, British property firm Barratt Developments, reported stronger-than-expected fiscal 2017 earnings on Wednesday. The firm said it would return £175 million ($226 million) to shareholders in the form of a special dividend. Its shares however ended down 4.56 percent as the group continued to warn of Brexit uncertainty.
Fellow housebuilder Berkeley Group also sank during trade, ending 2.5 percent lower after the U.K. firm echoed a similar sentiment to Barratt, stating that the London property market is still being hit by uncertainty surrounding a property tax hike and Article 50 negotiations; Reuters reported.