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.

London equities markets were down on Thursday as the FTSE 100 lost 22.8 points to 5,849.3 and the FTSE 250 dropped 9.5 points to 9.462.7. Much of the declines could be attributed to losses by Reuters and weakness in the oil sector.

Reuters was down 10.1 percent to 405¾p despite revenue and profits reports that were about as expected.

Some retailers saw gains on the day. Beauty products retailer Body Shop was up 12.2 percent to 275p on a confirmation of the report that French group L’Oreal is thinking of bidding for the company, even though no firm offer has yet been made. Home furnishing and fashion retailer Laura Ashley, meanwhile, advanced by 12.9 percent to 17½p on an announcement that full-year profits will be higher than had been forecast.

Otherwise, the markets saw a series of declines on the day. In the telecommunications sector, Colt Telecom dropped 5.4 percent to 61½p after it announced a new share offering to raise equity. Investec repeated its “sell” recommendation on the company’s shares and analysts questioned the need and timing for the new offering. Meanwhile, telecommunications testing equipment firm Spirent declined by 2.9 percent to 51.3p after it announced that its full-year pre-tax profit was £4.9 million, much lower than the figure of £15.4 million from the previous year.

Defense contractor BAE Systems dropped 2.2 percent on the day to 437½p on concern over problems with its pension plan.

Utility Centrica dropped 1.1 percent to 293p after the parent company of British Gas reported its annual earnings were down 4 percent due to higher interest and tax bills. It said that it could not guarantee that gas prices would not go up.