European stock markets are trading lower on Friday, trimming quarterly gains ahead of the closely watched eurozone inflation report that could influence expectations for an interest rate rise this year.

Europe's leading Blue-chip index, EURO STOXX 50 declined 14.08 points or 0.4 percent to trade at 3,467.50. UK's benchmark index FTSE 100 declined 41.40 points or 0.56 percent to trade at 7,328.12.

Meanwhile, Germany's benchmark index DAX fell 21.04 points or 0.17 percent to trade at 12,235.39. French benchmark index CAC 40 fell 20.66 points or 0.41 percent to trade at 5,068.98.

On Thursday, European stock markets settled higher. Europe's leading Blue-chip index, EURO STOXX 50 went up 6.31 points or 0.18 percent to settle at 3,481.58. Germany's benchmark index DAX went up 53.43 points or 0.44 percent to end at 12,256.43. French benchmark index CAC 40 gained 20.60 points or 0.41 percent to end at 5,089.64.