In Athens, the benchmark stock index closed around 5 percent lower after the Greek government postponed a debt repayment.
Greece had a 300 million euro ($338 million) payment due to the International Monetary Fund on Friday, but informed the fund that it would miss the payment and instead pay at the end of the month, bundling it in with other payments due in June.
Meanwhile, the negotiations between Greece and its international creditors over a reform deal are rumbling on.
Oil stocks were the major outperformer on Friday on the back of a sharp rise in the price of the commodity, which reversed later in the session.
In early afternoon trade, the 12-member OPEC group confirmed it was maintaining its oil production target of 30 million barrels of "black gold" per day.
The oil and gas stock sector in Europe closed up around 0.6 percent, the only major industry to close in positive territory bar basic resources.
U.S. stocks traded narrowly mixed on Friday as investors weighed developments in Greece and the fall in Treasury notes following the strong jobs report.