Stock indices traded higher despite the uncertainty over the Greek debt talks. Greek Prime Minister Alexis Tsipras will meet German Chancellor Angela Merkel and French President François Hollande later in the day.

The Greek government has submitted a new reform plan to the European Union (EU) and International Monetary Fund (IMF) on Tuesday. According to European officials, the new proposal was insufficient.

German government bonds hit the 1% barrier due to a selloff in bonds markets.

Meanwhile, the economic data from the Eurozone was mixed. The French statistical office Insee its industrial production figures on Wednesday. Industrial production in France fell 0.9% in April, missing expectations for a 0.4% gain, after a 0.3% decline in March. It was the first decrease in five months.

The decline was driven by declines in aerospace, automobiles and textiles.

On a yearly basis, the French industrial production rose 1.1% in April, after a 1.3% gain in March.

France's current account increased to a surplus of €0.4 billion in April from a deficit of €1.4 billion in March.

The trade surplus was driven by a drop in imports of crude oil imports.

The merchandise trade deficit narrowed to €1.1 billion in April from €3.2 billion in March.

The surplus in the services trade fell to €1.3 billion from €1.5 billion. The decline was driven by higher imports of telecommunication and information technology equipment.

The Office for National Statistics (ONS) released its manufacturing industrial production figures for the U.K. on Wednesday. Manufacturing production in the U.K. dropped 0.4% in April, missing expectations for a 0.1% gain, after a 0.4% increase in March.

Manufacturing output was driven by a decline in a decline in pharmaceuticals, which dropped 6.0%.

On a yearly basis, manufacturing production in the U.K. increased 0.2% in April, missing forecast of a 0.4% gain, after a 1.2% rise in March. March's figure was revised up from a 1.1% gain.

Industrial production in the U.K. climbed 0.4% in April, beating forecasts of a 0.1% rise, after a 0.6% gain in March. March's figure was revised up from 0.5% increase.

The increase in the industrial output was driven by higher oil and gas production. Oil and gas extraction increased 8.7% in April, the fastest pace since February 2014.

On a yearly basis, industrial production in the U.K. gained 1.2% in April, exceeding expectations for a 0.6% rise, after a 1.1% increase in March. March's figure was revised up a 0.7% rise.

Current figures:

Name Price Change Change %

FTSE 100 6,778.05 +24.25 +0.36 %

DAX 11,062.15 +60.86 +0.55 %

CAC 40 4,874.05 +23.83 +0.49 %