April 25 (Bloomberg) -- U.K. energy stocks including BP Plc and BG Group Plc climbed, sending the nation's stock benchmark higher, as rising crude-oil prices renewed optimism that profit growth will be sustained.

The FTSE 100 Index added 15.6, or 0.3 percent, to 4864.90. That's its highest level since April 15. The FTSE All-Share Index rose 0.3 percent to 2439.45.

``The oil price is persisting quite high,'' said Richard Hughes, who manages 2.5 billion pounds in assets at M&G Investment Management. ``I can't see much coming along to knock the supply and demand balance'' and drive down oil, he said.

Oil rose for a fifth session on speculation that refinery disruptions will cut gasoline supplies before the summer driving season in the U.S. Crude for June delivery rose 0.6 percent to $55.70 a barrel at 10:54 a.m. on the New York Mercantile Exchange, and earlier reached $56, the highest since April 7.

BP, Europe's No. 1 oil company, advanced 1.3 percent to 539 pence. Shell Transport & Trading Co., which owns 40 percent of Royal Dutch/Shell Group, added 1.3 percent to 478 pence.

BG Group Plc, the fastest-growing U.K. oil and gas company, rose 1.8 percent to 419.5 pence.

Burren Energy Plc, which is exploring for oil in the Caspian region and West Africa, climbed 3.7 percent to 534.5 pence.

Europe's largest oil companies may report a combined increase of 40 percent in first-quarter earnings from the year earlier, helped by soaring oil prices, analysts at Goldman, Sachs & Co. estimate. The industry's earnings season kicks off on April 26.

Exploring Upstream

``The market continues to wonder about the duration of the oil price rises,'' said Tim Rees, who manages $3.6 billion at Insight Investment Management. ``If you were terribly excited about it you'd probably go upstream and continue to show interest in the smaller exploration and production companies.''

Tobacco stocks rallied ahead of first-half earnings from Imperial Tobacco Group Plc, Europe's second-largest cigarette maker. Imperial may report a 39 percent increase in first-half profit as Chief Executive Gareth Davis boosted sales at the unit that makes Drum roll-your-own tobacco and Rizla rolling papers.

Shares in Imperial Tobacco rose 15 pence, or 1 percent, to 1,479 pence, and shares in British American Tobacco Plc, the world's second-biggest cigarette maker, topped gainers on the FTSE 100 as it climbed 19 pence, or 2 percent, to 982.5 pence.

Imperial's net income probably climbed to 263 million pounds ($501 million) in the six months through March from 189 million pounds a year earlier, according to the median estimate of six analysts surveyed by Bloomberg.

Easyjet, Carnival

Travel and tourism stocks declined amid concern slowing economic growth and higher fuel costs will erode earnings. Easyjet Plc, Europe's second-largest low-cost airline, dropped 1.5 pence, or 0.7 percent, to 230.5 pence.

London-traded shares in Carnival Corp., the world's largest cruise line, dropped 29 pence, or 1 percent, to 2,760 pence.

As growth slows, companies high oil costs will be ``less able'' to pass on cost increases, said Mike Lenhoff, chief strategist at Brewin Dolphin Securities. ``It will have more of an impact on profitability in those sorts of circumstances.''

Barclays Plc, the U.K.'s third-largest bank by assets, dropped as much as 0.6 percent before closing at 556.5 pence, after offering the equivalent of $5.2 billion for a stake in South African's Absa Group Ltd.

``I would not like them to raise their offer,'' said Richard Peirson, a fund manager at London-based Framlington, which oversees about $6.4 billion in equities, including Barclays stock. ``This is not a deal that makes a great deal of sense.''

HSBC Holdings Plc rose 3 pence, or 0.4 percent, to 831 pence. Europe's largest bank by market value was raised to ``outperform'' from ``neutral'' by analysts at Credit Suisse First Boston, who cited accelerating revenue growth.

Separately, HSBC said it will double its employees and add more branches in China this year, as part of plans to expand to 20 cities in the world's fastest-expanding major economy by 2007.

The following stocks made gains or losses. Symbols are in parentheses after the company names.

Crest Nicholson Plc (CRST LN), a homebuilder that rejected a 479-million pound ($915 million) takeover approach from Heron Corp., fell 3.5 pence, or 0.8 percent, to 414.5 pence. Heron said it will withdraw its offer if it doesn't get the information it requires by May 4.

Edinburgh Oil & Gas Plc (EDG LN), a U.K. oil and gas explorer, surged 44.5 pence, or 18 percent, to 294.5 pence. The company said it received an approach from Dutch investment firm Oranje-Nassau Groep BV and Dyas UK Ltd. that may lead to a takeover offer. Edinburgh, which owns 5 percent of the Buzzard oil development, the largest North Sea oil discovery in a decade, has a market value of 103 million pounds ($197 million).

Harvey Nash Group Plc (HVN LN), a U.K. company that recruits telecommunications and media executives, slumped 13 pence, or 17 percent, to 62 pence, even as it posted a yearly profit.

``Progress in the current year will be held back by the investment we are making in our business and the lower level of revenues within the consulting division,'' the company said in a statement.

Manchester United Plc (MNU LN) rose 2.75 pence, or 1 percent to 273.75 pence. Irish horse-racing millionaires John Magnier and J.P. McManus will this week decide whether to sell their 29 percent stake in the soccer club to Malcolm Glazer, the Sunday Telegraph reported, without saying where it got the information.

Separately, Dubai Crown Prince Sheikh Mohammed bin Rashid al- Maktoum may offer 900 million pounds ($1.7 billion) for the club, the Sunday Mirror reported, without citing its sources.

Somerfield Plc (SOF LN), the owner of Kwik Save and Somerfield grocery stores, rose 2 pence, or 1 percent. The Sunday Telegraph reported that Wal-Mart Stores Inc.'s Asda unit may bid for the company.

Baugur Group HF, Iceland's biggest retailer, and a group including millionaire investor Robert Tchenguiz have offered 1.1 billion pounds for Somerfield. Ian and Richard Livingstone, owners of London & Regional Properties, also are interested. Asda may make an outright bid or join one of two existing groups, the newspaper said, without saying where it got the information.

YouGov Plc (YOU LN), a U.K. polling company whose clients include the Daily Telegraph and Sunday Times newspapers, rose 11.5 pence, or 8.5 percent, to 146.5 pence in its first day of trading. The company raised 3 million pounds in an initial public offering at 135 pence. YouGov brought Internet election polls to the U.K.

Your Space Plc (YSP LN), a London property company, rose 0.25 pence, or 12 percent, to 2.4 pence. It said trading has improved for the current year and annual results will be similar to the previous year's earnings.

WPP Group Plc (WPP LN), the world's second-largest advertising company, fell 12.5 pence, or 2.1 percent, to 588 pence. The company said its Red Cell unit acquired a majority stake in Spanish independent ad agency Sra Rushmore to add work from Coca-Cola Co., El Corte Ingles SA and Diageo Plc. It didn't provide financial terms of the purchase.

XL TechGroup (XLT LN), a U.S.-based technology incubator that owns several life-sciences companies, rose 15 pence, or 4.7 percent, to 337.5 pence. The company said one of its businesses signed a agreement with BHP Billiton to sell carbon-emission credits.

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

Last Updated: April 25, 2005 12:30 EDT