A further data release from Britain’s Office for National Statistics on Thursday showed that the economy returned to growth in November, with gross domestic product rising 0.1% on a monthly basis after two months of economic contraction.

Elsewhere in the region, the European Commission will finalize figures on euro area inflation on Friday. Preliminary data released earlier this month showed that annual inflation in the euro zone rose to 2.4% in December — the bloc’s third consecutive monthly rise.

Spain — one of Europe’s fastest growing economies, according to the OECD — is set to publish import and export figures on Friday morning.

Overnight in Asia, stocks were mixed as investors reacted to China’s fourth-quarter GDP update, which came in above expectations.

On Wall Street, stock futures edged higher, with indexes poised to end the week higher despite some volatility in recent days.

—     CNBC’s Lisa Kailai Han and Lee Ying Shan contributed to this European markets update.