Investor confidence in Switzerland deteriorated significantly in May, after improving in the previous month, data from a survey by Credit Suisse and the Center for European Economic Research (ZEW) showed Wednesday.

The headline index, which reflects expectations of the surveyed financial market experts regarding Switzerland's economic development in a six-month time horizon, fell to -4 in May from 2.1 in April. In March, the index showed a flat reading.

Jobless claims in the UK fell unexpectedly in April, the latest figures from the Office for National Statistics showed Wednesday.

The claimant count in April was 1.59 million, down 13,700 from the previous month. Economists expected an increase of 5,000. The previous month's change was revised to show a decrease of 5,400 from gain of 3,600 reported earlier.

Iceland's central bank on Wednesday decided to raise its policy interest rate by fifty basis points, citing stable economic recovery that extends to most sectors.

The monetary policy committee increased the seven-day collateralized lending rate to 5.5 percent from 5 percent. The latest decision follows a quarter percent hike in March.

Turkey's consumer confidence declined in April from a nine-month high, a survey report from the Turkish Statistical Office showed Wednesday.

After rising for five straight months, the index dropped to 91.1 from 93.9 a month ago. A below 100 reading gives a pessimistic outlook.