Airline stocks outperformed on Friday, after the sector sold off heavily on Thursday as the oil price rose sharply.
The price of oil initially spiked on concerns that the Yemen conflict could see a key shipping route for oil tankers located between Yemen and Djibouti close.
But the commodity resumed its decline on Friday, as fears of a closure eased. U.S. crude and Brent fell 3.2 percent and 2.6 percent respectively, following a 5 percent surge overnight.
Mining stocks showed weakness on Friday, due to the continued slump in the price of iron ore and a fall in gold, as investors returned to risk assets. The helped pushed the basic resources-heavy FTSE 100 into negative territory.
In individual stocks news, shares of Novo Nordisk surged 10 percent after the pharma firm announced it was resubmitting a new insulin drug for clinical trials in the U.S.
Sports outfitter Adidas also rose 2.8 percent, due to a price target upgrade from Deutsche Bank.
U.S. stocks traded mostly higher on Friday as equities attempted to break the week's decline and investors remained cautious ahead of first quarter earnings in April.