Europe seen lower; global markets digest data

European equities are expected to open lower on Friday as global markets take a breath with investors keeping an eye on a second reading of U.S. gross domestic product (GDP) for the fourth quarter.

Asian equity markets were mixed on Friday, following an uninspiring lead from Wall Street Thursday on the back of a drop in oil prices and after jobless claims data showed a rise in unemployment aid applications that was more than analysts had expected.

On Friday, a second reading of U.S. fourth quarter GDP is in focus. Analysts polled by Reuters expect GDP growth of 2.1 percent, after 3.9 percent in the third quarter.

Greece is also in the spotlight again with German lawmakers set to approve a four-month extension of Greece's bailout on Friday although relations appear strained between the two countries after a turbulent negotiation process.

The bailout extension comes at a time of rising tension in Athens. On Thursday, dozens of black-clad protesters clashed with riot police in the capital, Reuters reported. The protesters smashed shop windows, threw petrol bombs and burned cars after an anti-government march, the first since the left-wing Syriza party took power a month ago, the news agency said.

Also in focus today are inflation figures from France, Italy, Greece, Spain and Germany that could reinforce or ease concerns over deflation in the euro zone. Earnings are due from Vivendi, Airbus, BASF, Bank of Ireland, Lloyds Banking Group, IAG, Pearson and Old Mutual.