The FTSE 100 dropped 0.6 percent to 6,269.3 in London on Thursday, while the FTSE 250 was 0.2 percent lower to 11,171.1. The 100 briefly reached a six-year high, at 6,335.1, early in the session but dropped later on the slow start in the New York markets.

Real estate was higher on the session after JP Morgan reminded that the UK sector is currently a better bargain than its European rivals. Hammerson added 0.2 percent to £15.03, while British Land was 0.6 percent higher to £16.21.

Publisher Pearson added 0.9 percent to 817½p on bids rumors and after Citigroup upped its target share price to 900p.

The pharmaceuticals sector declined after Credit Suisse said that the sector would extend its underperformance into this year after a sector-wide decline of 5.2 percent last year, mentioning the trouble companies were having bringing new drugs to market and keeping them there once introduced. Shire dropped 1 percent to £10.99, while AstraZeneca fell 1.3 percent to £28.44 and GlaxoSmithKline was 1.4 percent lower to £13.93.

In a related news, medical devices manufacturer Smith & Nephew was 1.4 percent lower to 570½p after it was suggested that its next report might not show as much of an improvement in margins as is hoped.

London equities markets were lower on Wednesday, with the FTSE 100 down 0.2 percent to 6,204.5 and the FTSE 250 down 0.3 percent to 11,094.6. Volume was at an active 3.5 billion shares traded on the session.

The retail sector was widely mixed. J Sainsbury was 0.6 percent higher to 427p on rumors that a group of Icelandic investors had bought a stake of nearly 3 percent in the supermarket.

On the other hand, department store Debenhams was 0.4 percent lower to 170¼p after going as low as 168¾p earlier in the session on rumors that an investor has taken advantage of low its low share price to build a stake. A volume of 40 million shares in the company changing hands on Tuesday and 33 million more shares traded on Wednesday added substance to the rumors.

Electrical retailer DSG International, meanwhile, fell 12 percent to 171p on a trading statement that disappointed.

Publishers had a good day. Reed Elsevier gained 0.4 percent to 598½p, while Pearson was up 3 percent to 824½p after it was said that private equity group Kohlberg Kravis Roberts might be interested.

In the oil sector, Royal Dutch Shell dropped 0.2 percent to £17.11 on the low price of oil.

SABMiller added 4.7 percent for the best performance on the 100, trading at £12.26. The brewer’s fiscal third quarter figures were better than had been anticipated.

The FTSE 100 in London had a roller-coaster day in which it was up early, dropped after the Bank of England’s decision to raise interest rates by 25 basis points, then rallied late in the day to end up 1.1 percent higher, to 6,230.1. The FTSE 250 also ended the day higher, adding 0.3 percent to 11,123.4

Publishers and other media stocks were up on the day. Reed Elsevier and Yell Group each added 3.5 percent on the session, to 602½p and 598p respectively. Yell was helped by positive comments from Goldman Sachs, while Reed Elsevier gained on talk that private equity might be preparing a bid. Reuters gained 3.6 percent to 451¾p. Meanwhile Pearson, which owns the Financial Times, was 3.7 percent higher to 805p. Elsewhere in media, ITV was up 2.1 percent to 109¼p on a upgrade to “buy” from Deutsche Bank.

Banks saw gains as well, with Lloyds TSB adding 0.9 percent to 583p on rumors that either Banco Santander or BBVA could be interested.

In the mining sector, Kazakhmys gained 3.9 percent to £10.53, while BHP Billiton was 4.9 percent higher to 930p as metals prices began to recover.

Pubs operators declined on negative comment from Deutsche Bank. Enterprise Inns dropped 1.7 percent to £12.77 and Punch Taverns fell 3.7 percent to £11.69.

The homebuilding sector saw losses after interest rates were hiked. Persimmon was 1 percent lower to £14.57, while Redrow fell 3.2 percent to 668½p.

The London equities markets were mixed on Friday and closed out the week lower than they began. The FTSE 100 was 0.01 percent lower on the session and 2.1 points lower on the week to 6,155.2, while the FTSE 250 added 0.1 percent Friday but lost 43.1 points over the week to close at 10,356.5.

Banks were lower, with Lloyds TSB down 1 percent to 562½p, while Northern Rock dropped 1.2 percent to £11.76 on the news that the Office of Fair Trading has recommended that the Payment Protection Insurance market be looked at by the Competition Commission. Both Lloyds and Northern Rock make from 14 to 18 percent of their profits from PPI commissions.

Among other losers, PartyGaming was 7.2 percent lower to 29p on a disappointing trading update, while in the semiconductors sector Wolfson Microelectronics fell to 279p on a profits warning.

Ladbrokes added 2.6 percent to 401¼p and 12 million shares changed hands on rumors that a private equity group would make a bid. Still in the leisure sector, Intercontinental Hotels Group was 2.5 percent higher to 997p.

Amvescap gained 1.6 percent to 614p on positive comments from Deutsche Bank. Meanwhile, media group Pearson was up 0.9 percent to 784½p.

The London equities markets were mixed on Monday, as the FTSE 100 added 0.7 percent to 6,067.0 but the FTSE 250 declined by 0.4 percent to 9,878.9.

Miners once again were among the gainers on the day. Antofagasta was up 3.4 percent to £23.39, while Kazakhmys and Anglo American each gained 2.9 percent, to £12.35 and £24.05 respectively.

In the advertising sector, WPP added 2.7 percent to 690½p on positive comments from both Deutsche Bank and Lehman Brothers.

Media companies were also up on the day. Pearson, which owns the Financial Times, gained 2.4 percent to 781p. EMI added 2.8 percent to 257p as talk circulated that it might merge with US company Warner Music Group.

Rising crude oil prices sent BP up 1.8 percent to 693½p as traders predicted that shares in the company could go as high as 720p.

In the telecommunications sector, Vodafone gained 0.4 percent as it was rumored that Verizon, Telefonica of Spain, and the Blackstone private equity group could bid for the company.

On the other hand, word that GlaxoSmithKline will not be bought by Serono brought a gain of 1.2 percent to the largest pharmaceuticals company in Europe, bringing its share price to £14.94. Also helping GSK was an upgrade to “outperform” from Sanford C. Bernstein on the hope that it will have developed a H5N1 flu vaccine by early next year.

Losers on the day included hotels company De Vere, which lost 1.8 percent to 800p. Northern Foods declined by 3.3 percent to 95¼p on worries that bird flu concerns would impact its poultry business. Among chipmakers, Wolfson Microelectronics dropped 6.5 percent to 443p on a downgrade from Goldman Sachs.