* Blue-chip FTSE 100 index ends 1.2 pct higher
* GlaxoSmithKline, Barclays, British American Tobacco up
* Quintain Estates and Development surges 22 pct
By Atul Prakash
LONDON, July 29 (Reuters) - Britain's top share indexadvanced on Wednesday, with Hikma Pharmaceuticals leading themarket higher on positive broker comments and GlaxoSmithKlinegaining after reporting a lower-than-expected fall in quarterlyearnings.
Hikma shares were the biggest blue-chip gainersafter a target price update from Jefferies, adding 3.7 percentto an 11.6 percent jump on Tuesday, when it announced a deal tobuy Boehringer Ingelheim's U.S. generic drugs business Roxanefor about $2.65 billion in cash and stock.
"The deal has created a firm foundation for future growth,"said Augustin Eden, analyst at Accendo Markets. "Hikma sharescould be bound for a return to February highs and above - stilla healthy 8.5 percent away despite gains of yesterday."
The blue-chip FTSE 100 index closed 1.2 percenthigher at 6,631.00 points after rising 0.8 percent in theprevious session, when it snapped a five-day losing streak.
Drugmaker GlaxoSmithKline gained 3.5 percent afterflagging up dozens of new drugs and vaccines in development asdemand for new HIV medicines helped it beat quarterly profitforecasts.
Barclays shares were up nearly 2 percent after thebank, which reported a 12 percent rise in profit, said itintended to accelerate the sale of assets and cost cutting.
"Barclays appears eager to press ahead with the increasedpace of restructuring ... Most of the key metrics continue toshow improvement, with a reduction in operating expenses andimpairments being complemented by another robust income showing,leading to a notable hike in adjusted profits," said RichardHunter, head of equities at Hargreaves Lansdown.
"In addition, the capital cushion remains comfortable andthe return on equity is showing some signs of life."
British American Tobacco advanced 3.6 percent afterreporting a better-than-expected performance for the secondquarter.
Small-cap Quintain Estates and Development jumped 22percent on news that it is to be bought by U.S. private equityfirm Lone Star after receiving a bid valuing the firm at around700 million pounds ($1.1 billion)..
On the downside, Compass Group, the world's biggestcatering firm, fell 5.3 percent after saying operating profitthis year and next would be hit by restructuring costs.
Mid-cap engineering supply group Premier Farnell slumped 16 percent following comments that it expected a 10percent fall in first-half adjusted operating profit after salesgrowth per day in its main markets slowed in the second quarter. (Additional reporting by Liisa Tuhkanen; Editing by AlisonWilliams and Kevin Liffey)
Barclays (BARC)
Greggs (GRG)
Quadrise (QED)
