LONDON MARKETS: U.K.'s FTSE 100 Climbs For Fifth Day Ahead Of Inflation Data

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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