NEW YORK — Stocks closed mixed in uneven post-holiday trading Thursday as a rebound in bond yields stifled Wall Street's excitement about new buyout activity and strength in the U.S. service sector.

The Institute for Supply Management's index of service sector activity rose to 60.7 in June from 59.7 in May, indicating that non-manufacturing industries saw slightly faster expansion. The figure was better than expected, fueling sentiment that the economy is recovering from a slow first quarter.

However, the data weighed on bond prices, which were already weak after payroll company Automatic Data Processing and consultancy Macroeconomic Advisers said the private sector added 150,000 jobs last month — a good sign that the Labor Department's report on June nonfarm payrolls Friday will show a solid rise.

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30-YEAR MORTGAGE RATES DIP

WASHINGTON — Rates on 30-year mortgages sank this week to a one-month low, while rates on most other mortgages also fell, good news to prospective home buyers.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.63 percent. That was down from last week's 6.67 percent rate and was the lowest since early June, when rates stood at 6.53 percent.

The moderation is welcome for people in the market to buy a home. In mid-June, rates on 30-year mortgages climbed to 6.74 percent, an 11-month high.

Rates on many mortgages have ebbed in recent weeks as investors' fears about an inflation have eased.

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BANK OF ENGLAND RAISES INTEREST RATE

LONDON — The Bank of England raised its benchmark interest rate by a quarter of a percentage point to 5.75 percent on Thursday, the fifth increase in less than a year as it attempts to put a lid on persistent inflation.

The widely expected move confirmed Britain's place at the top of the interest rate table of the world's seven wealthiest nations, as the European Central Bank held its own main refinancing rate unchanged at 4 percent.

British interest rates are now at a six-year high as the Bank of England struggles to contain rising prices and a booming housing market.

Anticipation of Thursday's rate rise drove the pound to 26-year highs above $2 and the currency nudged slightly higher again after the announcement to $2.02 before settling back slightly to $2.0102.

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INCISIVE MEDIA TO ACQUIRE AMERICAN LAWYER MEDIA

NEW YORK — Incisive Media, a British business news provider, said Thursday it will pay about $630 million to buy the publisher of The American Lawyer and other titles as it seeks to boost its product range and strengthen its foothold in North America.

Incisive's all-cash purchase of American Lawyer Media Holdings Inc., expected to close in the third quarter, ends a decade of control by New York financier and buyout specialist Bruce Wasserstein's private equity firm, Wasserstein & Co.

ALM President and Chief Executive William Pollak said the deal follows a "very robust auction" that drew attention from multiple bidders. He said Incisive's strength on the Web and its expertise in the areas of financial services and risk management complement ALM's existing operations.

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HILTON SHARES RISE AFTER BUYOUT BID

LOS ANGELES — Shares of Hilton Hotels Corp. soared 26 percent Thursday, two days after the company agreed to be bought by The Blackstone Group for $20.1 billion in cash. The deal was valued at $26 billion including debt.

Shares of other lodging companies also rose as analysts speculated about which ones might become the next buyout targets. Hilton's shares were the most heavily traded on the New York Stock Exchange. Shares rose $9.34 to $45.39.

The proposed acquisition deal represents a 32 percent premium over Tuesday's closing price. It would instantly make Blackstone the world's largest hotel owner.

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INDIA'S DLF HAS STRONG DEBUT

NEW DELHI — Shares of India's top real estate company, DLF Ltd., made a strong debut Thursday, rising nearly 9 percent in the country's biggest-ever initial public offering.

Last month, DLF raised about $2.25 billion by selling 175 million new shares to the public.

Trading in the shares began Thursday on the Bombay Stock Exchange at a 11 percent premium to the issue price. Later, the stock fell slightly to close at 570.75 rupees ($14.11), or 8.8 percent above the issue price.

The stock was also traded on the broader National Stock Exchange.

DLF's listing has boosted the net worth of its Chairman K.P. Singh and immediate family members, who together own 87.4 percent of the company, to nearly $20 billion, making them one of the world's richest families.

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FAST RETAILING OFFERS $900M FOR BARNEYS

NEW YORK — Japan's Fast Retailing has offered $900 million in cash for Barneys New York, upping an earlier bid from a Dubai-based investment group, owner Jones Apparel Group said Thursday.

On June 22, Jones announced it had agreed to sell the luxury retailer to an affiliate of Istithmar for $825 million. That offer was more than double what the New York-based apparel maker paid in December 2004 in its first foray into luxury brands.

The deal had been expected to close during the third quarter of 2007.

Jones' shares rose 20 cents to $28.60 Thursday.

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OIL, GAS PRICES RISE

NEW YORK — Oil and gasoline prices advanced Thursday after renewed violence in Nigeria overshadowed a government report that surprised traders with news that fuel inventories grew faster than expected while refinery use grew at a slower than anticipated rate.

Prices rose early in the day on news of kidnappings in Nigeria, then fell sharply after the inventory report was released. From there, prices fluctuated before finally settling higher.