U.K. blue-chip stocks edged higher Friday, enough for the market to close at a second consecutive record high, as focus turned to the Group of 20 meeting of finance chiefs in Germany. Investors moved with caution Friday as the G-20 meeting of finance ministers and central bankers from the world's largest economies kicked off in the German spa town of Baden-Baden.

U.S. stocks edged lower on Friday but managed to post moderate weekly gains with investors awaiting further catalysts before jumping back into the market.

Equity markets kicked off the week lacking direction as investors digested news from the G-20 meeting over the weekend, while major U.S. indexes didn't provide much of a lead. As trading got underway, bearish sentiment reigned and volumes were lighter with Japan away on vacation; cautious investors stayed on the sidelines.