European shares opened muted on Friday, after the European Central Bank's latest rate cut and upbeat earnings prompted strong gains in the previous session, with the main stocks gauge headed for a second weekly rise.

Policymakers who set interest rates for the 20 countries that use the euro have lowered rates in back-to-back meetings for the first time since 2011.

The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after figure