By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.K. stocks climbed for a fifth straight
day on Tuesday, with oil firms leading the charge north, as
investors waited for inflation data for July.
The FTSE 100 index gained 0.5% to 6,771.44, setting it on track
for the highest close in almost three months.
Helping push the index higher, heavyweight oil firms advanced as
oil prices moved back above $97 a barrel. Shares of BP PLC (BP) put
on 0.6%, Royal Dutch Shell PLC (RDSB) rose 0.5% and BG Group PLC
picked up 0.4%.
On a more downbeat note, shares of BHP Billiton PLC (BHP) slid
3.3% after the mining firm said it will spin off several assets,
including its nickel mines and aluminum smelters, which will be
listed on Australia's stock exchange. The company also reported a
23% rise in annual profit.
At 9:30 a.m. in London, or 4:30 a.m. Eastern Time, attention
turns to U.K. consumer-price inflation data for July, where
analysts expect annual inflation to fall back to 1.8%, from 1.9% in
June.
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