Utilities was one of Europe's top performing sectors, along with retail and commodities. RWE came off its highs, closing up 1.2 percent, with the stock having benefited from the collapse of coalition talks in Germany, as analysts are now expected a looser energy policy. French rival EDF, meanwhile, rose 2.1 percent.
Travel and leisure came under pressure on the back of earnings news. Thomas Cook slipped 8.38 percent after announcing full year results that showed an 8 percent increase in earnings. Margins fell in the 2017 fiscal year due to a more competitive environment however.
Looking across the European benchmark, food travel firm SSP rose 8.4 percent after posting a 27 percent increase in underlying profits. At the other end, media group Schibsted tumbled over 6.5 percent after announcing a new share issue.
Akzo Nobel popped 1.27 percent after Japan's Nippon Paint made an all cash offer Tuesday to buy Axalta, Reuters reported; putting an end to Axalta's merger talks with Akzo Nobel.
Elsewhere, retailer Kingfisher rose 4.6 percent, after Jefferies lifted its rating and target price on the stock, while BTG tumbled 5 percent after JP Morgan cut its price target on the stock.
In commodity markets, oil prices maintained gains in later trade, on news that a major pipeline cut Canadian crude flows to the U.S. Brent hovered around $63, while WTI was above $57.50 at Europe's close.