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U.K.'s FTSE 100 Climbs, Paced by Shares of BP, Enterprise Inns

By David Kroon

Nov. 22 (Bloomberg) -- U.K. stocks advanced. Enterprise Inns Plc shares climbed to a record after the nation's biggest pub landlord's full-year profit surged. Energy producers BP Plc and Royal Dutch Shell Plc gained as crude oil rose for a second day.

The benchmark FTSE 100 Index rose 14.5, or 0.3 percent, to 5512.4 as of 9:34 a.m. in London, heading for the highest close since August 2001. The FTSE All-Share Index also climbed 0.3 percent, to 2773.61. Ireland's ISEQ Overall Index added 0.6 percent to 68507.59, buoyed by shares of Elan Corp.

Enterprise Inns increased 1.4 percent to 876 pence, the highest since the shares commenced trading in November 1995. Full- year net income advanced 44 percent to 211.8 million pounds ($364 million) as Unique Pub Co. contributed to revenue growth.

BP, Europe's biggest oil company, rose 1.3 percent to 662 pence. Shell, the region's No. 2, added 0.8 percent to 1,841 pence, climbing for a seventh session.

Crude oil increased as much as 0.5 percent to $58 a barrel in New York, adding to yesterday's 0.9 percent advance. Prices today are 19 percent higher than a year ago.

Elan, Ireland's biggest drugmaker, climbed 3.9 percent to 8.85 euros in Dublin.

Scottish Power Plc, the U.K.'s fifth-largest energy provider, slumped 7.7 percent to 525 pence after Germany's E.ON AG ended talks to buy the company because of a disagreement about the price.

E.ON, Europe's second-largest publicly traded power company, stopped the negotiations after Scottish Power said it wouldn't consider a bid of 570 pence ($9.76) for each Scottish Power share, Dusseldorf-based E.ON said today.

The following stocks gained or fell in U.K. and Irish markets. Stock symbols are in parentheses.

EasyJet Plc (EZJ LN), Europe's second-biggest low-cost carrier, increased 21.25 pence, or 6.9 percent, to 327.75. Net income for the full year ended Sept. 30 rose 3.6 percent to 42.6 million pounds ($73.2 million) as passenger traffic gained and the airline added routes and cut costs. Profit beat the 41.2 million- pound median estimate of six analysts surveyed by Bloomberg News.

Hamworthy Plc (HMY LN), a maker of pumps for oil tankers, declined 13 pence, or 4.2 percent to 294.5, after saying first- half profit fell 9 percent because it paid a higher rate of tax as allowances a year earlier ended. Net income for the six months ended Sept. 30 fell 9 percent to 2.75 million pounds.

LogicaCMG Plc (LOG LN), Europe's third-largest computer- services provider, rose 3.25 pence, or 2.1 percent, to 156.5. Merrill Lynch & Co. rated the shares ``buy'' in new coverage.

ScS Upholstery Plc (SUY LN), the operator of 67 U.K. sofa stores, climbed 15.5 pence, or 4.2 percent, to 385. Full-year net income increased 32 percent to 12.7 million pounds from a year earlier as the company added outlets and gained from the collapse of competitors. The earnings included gains of 1.5 million pounds from the sale of real estate.

Tribal Group Plc (TRB LN), a U.K. provider of consulting and asset-management services, advanced 5.5 pence, or 2.9 percent to 197, after posting a first-half profit. Net income in the six months ended Sept. 30 was 4.3 million pounds, compared with a loss of 2.1 million pounds.

Irish stocks:

Greencore Group Plc (GNC ID), the world's largest maker of sandwiches, fell 9 cents, or 2.9 percent to 3.05 euros. The company's annual loss widened to 59.1 million euros ($69 million) from 16.9 million euros on costs related to closing a factory in Ireland and selling a pizza-making business. Sales fell 2.2 percent to 1.41 billion euros.

To contact the reporter on this story: David Kroon in Stockholm at dkroon@bloomberg.net

Last Updated: November 22, 2005 04:44 EST

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