In Brussels, European Union (EU) leaders nominated Jean-Claude Juncker of Luxembourg as the next European Commission President. This decision was expected, but has proved something of a flash point for U.K. disenchantment with the EU, with British Prime Minister David Cameron firmly opposed to Juncker's appointment.
Read MoreEuro leader to UK: 'Wake up and smell the coffee
Data released on Friday confirmed that France's economy was posted no growth in the first quarter of 2014. In the U.K., the national statistics office confirmed that Britain's gross domestic product (GDP) grew by 0.8 percent in the first quarter.
Earlier in the day, research body GfK had reported that British consumer confidence reached its highest since March 2005 this month, adding to signs the economy is recovering.
In the U.S., stocks wobbled on Friday, with the Dow industrials and S&P 500 on track for weekly losses, after DuPont trimmed its earnings forecast, leading a retreat in the materials sector. Investors were little moved by a report that had consumer sentiment climbing in June, with the Thomson Reuters/University of Michigan's index on consumer sentiment rising to 82.5, up from 81.9 in May.
Meanwhile, Asian equity markets declined on Friday following hawkish comments from a U.S. Federal Reserve official the previous day. Speaking in a televised interview on Thursday, St. Louis Fed President James Bullard suggested interest rates could rise sooner than expected, leading Wall Street shares to end in the red overnight.
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