America News Agency

Banks shed 2.40 percent, autos were 1.44 percent lower, and retail stocks added 1.38 percent. The Bank of England announces its latest monetary policy decision at midday London time. Market pricing slightly favours a 25 basis point interest rate cut from the U.K. central bank, kicking off its path of monetary easing. 

Rolls-Royce's shares jumped more than 11 percent, hitting an all-time high after the company reinstated its dividend and raised its profit forecast based on strong first-half results. On the other hand, Societe Generale fell 6.9 percent after it downgraded its outlook for its French retail activities even as it beat second-quarter earnings estimates.

The BOE’s meeting follows the U.S. Federal Reserve’s, which ended in a widely expected hold on rates. At his press conference, Fed Chair Jerome Powell said a rate cut in September—which traders view as near-certain—was “on the table” as long as inflation data continues to support one. However, Powell appeared to rule out that the cut would be as large as 50 basis points.

European technology stocks also saw big moves on Wednesday, posting strong gains in Europe as chip firm ASML. Oil major Shell and British bank Barclays are among the firms reporting Thursday.