May 16 (Bloomberg) -- U.K. stocks fell for the fifth day in six. BP Plc and Shell Transport & Trading Co. slipped as oil traded close to three-month lows.

William Hill Plc paced the decline in the benchmark FTSE 100 Index after agreeing to buy Stanley Leisure Plc's betting shops for 504 million pounds ($930 million).

The FTSE 100 lost 6.3, or 0.1 percent, to 4880.20 as of 1:47 p.m. in London. The FTSE All-Share Index fell 2.04, or less than 0.1 percent, to 2432.22.

Indexes extended losses after an index of New York state manufacturing unexpectedly fell this month to the lowest level since April 2003, ending two years of growth.

BP, Europe's biggest oil company, fell 2.5 pence, or 0.5 percent, to 530.5 pence. Shell, which owns 40 percent of Royal Dutch/Shell Group, declined 1 pence, or 0.2 percent, to 463.5 pence.

Crude oil for June delivery slipped as much as 1.5 percent to $47.94 a barrel in New York amid expectations U.S. inventories will be sufficient to meet demand from refiners. The futures reached a three-month low of $47.75 at the end of last week.

William Hill, the U.K.'s second-largest bookmaker, dropped 17 pence, or 3.2 percent, to 508 pence. The purchase of Stanley's 624 betting offices will create a chain of 2,237 bookmakers, London-based William Hill said.

The Federal Reserve Bank of New York's index, which gives a clue to the current performance of U.S. industry, fell to minus 11.1 this month, from 2.0 in April. Readings less than zero represent contraction. Economists forecast a rise to 11.7 for the month, according the median estimate in a Bloomberg News survey.

To contact the reporter on this story: Sophie Hares in London at shares@bloomberg.net.

Last Updated: May 16, 2005 08:50 EDT