In the British capital, the benchmark FTSE 100 index dropped 0.2 percent to 7,252.32 points compared with the close on Thursday.
In the eurozone, Frankfurt's DAX 30 index shed 0.2 percent to 12,569 points.
The Paris CAC 40 won 0.2 percent to 5,277.39 points as shares in L'Oreal jumped nearly 5.0 percent at the start of trading.
Investors bet on a change of possible ownership at the company following the death Wednesday of the French cosmetic company's heiress Liliane Bettencourt.
The cosmetics giant's principal shareholder, Bettencourt was the 14th richest person in the world, according to Forbes magazine, which estimated her net worth in March at $39.5 billion.
"The death of Liliane Bettencourt opens the door for Nestle to up their stake in L'Oreal," brokers Liberum said in a note to clients Friday.
But it added: "There is a lot of speculation at this stage: a possible scenario is that Nestle may acquire L'Oreal and there are other rumours that L'Oreal may buy back part of its stake from Nestle."