European shares muted ahead of key economic data

In corporate updates, shares of British packaging firm Mondi lost 3.2%, while DS Smith jumped 5.7% to the top of the STOXX 600 after the former offered to buy the latter for 5.14 billion pounds ($6.58 billion). Meanwhile, European Central Bank policymaker Francois Villeroy de Galhau said that interest rates will be lowered this spring, "from April until June 21", boosting market sentiment.

European shares had a subdued open on Friday as strength in energy shares was offset by investor caution ahead of key eurozone and U.S. economic data.

The pan-European STOXX 600 was flat as of 8:16 GMT, following a record-high close on Thursday. The benchmark is on track for its seventh straight week of gains. Oil and gas shares added 0.7% on higher crude prices as demand grew in the world's biggest consumers - the United States and China.

On the data front, figures for the eurozone's revised fourth-quarter GDP are due at 1000 GMT, while investors also look forward to February U.S. nonfarm payrolls data. In corporate updates, shares of British packaging firm Mondi lost 3.2%, while DS Smith jumped 5.7% to the top of the STOXX 600 after the former offered to buy the latter for 5.14 billion pounds ($6.58 billion).

Meanwhile, European Central Bank policymaker Francois Villeroy de Galhau said that interest rates will be lowered this spring, "from April until June 21", boosting market sentiment.