LONDON MARKETS: FTSE 100 Cruising To Best Weekly Win In More Than Three Years

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.K. stocks rose Friday, following up on the previous session's jump in equities throughout Europe after the European Central Bank said it will launch a massive asset-purchasing program.

The FTSE 100 rose 0.5% to 6,826.10, and was on track for a weekly gain of 4.3%, moving toward its best weekly advance since late 2011.

Topping the benchmark was CRH PLC , higher by 3.4% following confirmation Thursday it was in talks with Lafarge SA and Holcim Ltd. about assets they need to unload, as the cement companies work on their merger.

But mining shares were lower, with Glencore PLC down 2.6% as its rating was cut to underweight from neutral at J.P. Morgan. Anglo American PLC was off 0.8%, with the broker saying it's retaining a cautious stance on the shares.

On the mining sector's radar was HSBC's preliminary reading of China's manufacturing sector in January. The index rose to 49.8 from 49.6 in December, and a figure below 50 indicates contraction. Shares of Antofagasta PLC were down 2.8%, on track for their first loss in five sessions, and Fresnillo PLC pulled back 2.4%.

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