In London on Wednesday the FTSE 100 dropped 1.38 percent to 6,567.1, while the FTSE 250 was 0.64 percent lower to 11,726.
The best performance on the day on the 100 came from water utility Kelda Group (LSE: KEL), which gained 2.13 percent to 889p after broker upgrades.
Merrill Lynch (NYSE: MER; TYO: 8675) and Citigroup (NYSE: C) both upped their recommendations on the utility, with Citigroup raising its rating from “sell” to “hold”, while JP Morgan (NYSE: JPM; TYO: 8634) raised its target share price.
Pubs operator Wetherspoon (LSE: JDW) had the best day on the 250, gaining 10.99 percent to 616p after it reported higher sales and said that it is on target to meet its forecasts.
Still in the same sector, pubs operator Mitchells & Butlers (LSE: MAB) added 1.83 percent to 892p.
In a related sector, brewer SABMiller (LSE: SAB) was 1.63 percent higher to £13.10.
The worst performance on the 250 came from sports retailer JJB Sports (LSE: JJB), which dropped 7.52 percent to 233.75p.
In the same sector, clothing retailer Next (LSE: NXT) fell 3.23 percent to £18.88 on the 100.
The biggest loser on the 100 was miner Anglo American (LSE: AAL), down 3.85 percent to £31.
Fellow miner Lonmin (LSE: LMI) was also lower as it fell 3.6 percent to £36.95.
Other commodities-related groups also saw declines on the session.
UK Coal (LSE: UKC) dropped 4.21 percent to 534.5p, while in the oil sector Dana Petroleum (LSE: DNX) fell 5 percent to £11.02.