The German benchmark DAX index on Friday added 24.21 points, or 0.22 percent, to close at 11,203.63 points. The index recorded a weekly gain of about 6.5 percent.

"A bigger QE extension than anticipated" pulled the German index further up on Friday.

However, some analysts warned about the political uncertainty after Italy's failed referendum last Sunday. The European central bank has reportedly rejected a request from Italian bank Monte dei Paschi to delay its recapitalization deadline.

In addition, European markets are facing possible risks caused by election of major EU countries and the Brexit negotiation next year.

Fresenius Medical Care advanced the most by 3.57 percent with a "overweight" rating from Morgan Stanley.

Deutsche Bank dropped the most by 2.99 percent, followed by ThyssenKrupp and Infineon.

Daimler was the most traded share of the day with a volume of 315.98 million Euros (333.64 million U.S. dollars).