LONDON MARKETS: U.K. Stocks Heading Toward Weekly Win; Next Shares Fall

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.K. stocks climbed Friday, carrying on with a global rally in equities that's poised to leave the FTSE 100 higher for the week.

The FTSE 100 rose 0.7% to 341.54, on track for a fourth consecutive rise. It was also headed for a 3% gain for the week, which featured "one of the most volatile sessions in many years" on Tuesday, said Bill McNamara, senior technical analyst at Charles Stanley, in a note this week.

WPP PLC was perched at the top of the London benchmark, rising 3.1%. The advertising heavyweight late Thursday said it has purchased Clarus Digital S ADA de CV for an undisclosed amount, with the purchase aimed at boosting its digital-marketing services and its presence in Latin America. Clarus is based in Mexico City.

Shares of International Consolidated Airlines Group Ltd. were up 1.3%, a day after the parent of British Airways said its offer to buy Irish flag carrier Aer Lingus Group PLC was rejected.

Aer Lingus said IAG's proposal fundamentally undervalues its prospects. Shares of Aer Lingus were 0.7% higher on Friday.

Decliners included Next PLC , down 0.9% after Jefferies downgraded the fashion retailer to hold from buy, saying it believes the company's "competitive advantage is diminishing."

Also lower, shares of utility SSE PLC were off 1.9%, and oil-services provider Petrofac Ltd. fell 3.7%.

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