Equities were down in London Wednesday, with the FTSE 100 down 0.49 percent to 6,482 and the FTSE 250 falling 0.71 percent to 11,278.5.

The pharmaceuticals sector saw losses.

GlaxoSmithKline (LSE: GSK; NYSE: GSK) dropped 0.9 percent to £12.49 after it reported that profits were down 5.8 percent in the third quarter on poor sales of Advair and Avandia.

Meanwhile, AstraZeneca (LSE: AZN; NYSE: AZN) fell 2 percent to £24.09 after a lowered recommendation from Merrill Lynch, which cited increased competition from generics in reducing the drug maker from “neutral” to “sell”.

Miners were also lower on declines in base metals prices.

Vedanta Resources (LSE: VED) dropped 4.05 percent to £20.63, while Lonmin (LSE: LMI) was down 4.66 percent to £32.50 and Kazakhmys (LSE: KAZ) fell 7.21 percent to £13.78 after it said output was cut by 19 percent in one of its mines after a flood.

Oil explorer and producer Cairn Energy (LSE: CNE) had the best day on the 250 with a gain of 6.35 percent to £24.13 on rumors that BP (LSE: BP; NYSE: BP; TYO: 5051) might make an offer.

Elsewhere in the oil sector, Tullow Oil (LSE: TLW; OTC: TUWLY) was up 2.09 percent to 610p.

Carphone Warehouse (LSE: CPW) gained 1.82 percent to 336.25p on news of an unexpected deal with Vodafone (LSE: VOD; NYSE: VOD; FWB: VOD) in which Vodafone will host Carphone Warehouse’s new mobile phone service.

The best performance on the 100 came from BAE Systems (LSE: BA). The aerospace and defense group added 3.36 percent to 507p.

London’s markets were higher Wednesday, with the FTSE adding 0.41 percent to 6,306.2 and the FTSE 250 gaining 0.07 percent to 11,219.7.

Aerospace and defense group BAE Systems (LSE: BA) had the best day on the 100, adding 3.18 percent to 478.25p, while engineering and construction firm AMEC (LSE: AMEC) was the best performer on the 250 with a gain of 4.5 percent to 731.5p.

The chemicals sector was higher.

Johnson Matthey (LSE: JMAT) was up 2.3 percent to £16.03, while Reckitt Benckiser (LSE: RB) added 2.74 percent to £27.39.

British American Tobacco (LSE: BATS; AMEX: BTI; KLSE: BAT) gained 2.57 to £16.79, which consumer goods retailer Home Retail (LSE: HOME) was up 2.5 percent to 410.75p.

Carphone Warehouse (LSE: CPW) added 3.38 percent to 352p on the news that it will jump from the 250 to the 100 beginning on September 24.

Tullow Oil (LSE: TLW) and Taylor Wimpey (LSE: TW) will also reportedly be promoted to the 100. Insurers saw declines on the day.

Standard Life (LSE: SLET) fell 1.2 percent to 288.75p, while Legal & General (LSE: LGEN) was the worst performer on the 100 with a drop of 2.27 percent to 133.4p.

Pest control group Rentokil Initial (LSE: RTO; OTC: RTOKY) was 1.29 percent lower to 168.7p, while media group ITV fell 1.51 percent to 111p after it said it would sell assets and cut jobs to increase core output.

Brewer SAB Miller (LSE: SAB) was down 1.7 percent to £13.28.

The biggest loser on the 250 was International Personal Finance (LSE: IPF), with a decline of 4.78 percent to 224.25.

London’s markets were down nearly as much as continental markets.

The FTSE 100 was down 1.93 percent to 6,191.2, while the FTSE 250 fell 1.97 percent to 11,107.7.

Software developer Sage Group (LSE: SGE) led the 100 with a gain of 1.78 percent to 243p, while insurer Domestic & General (LSE: DGG) topped the 250 as it added 10.28 percent to £13.94.

However, the insurance sector ended mixed as Old Mutual (LSE: OML; JSE: OLOML) put in the worst performance of the day on the 100, dropping 5.25 percent to 146.2p.

Other gainers on the day included aerospace group BAE Systems (LSE: BA; OTC; BAESY), which added 1 percent to 452.5p on a report that it has secured a key contract with Saudi Arabia.

Electricity generator British Energy Group (LSE: BGY) at a gain of 0.7 percent to 468.25p.

Gold miner Randgold (LSE: RRS; NAS: GOLD), meanwhile, added 8.08 percent to £14.04 on the 250.

Property developers and investors didn’t do well on the session. Hammerson (LSE: HMSO) was 4.54 percent lower to £12.20, while British Land (LSE: BLND) fell 5.03 percent to £12.26.

British Airways (LSE: BAY; NYSE: BAB) was down 4.96 percent to 397.25p.

Pubs operator Punch Taverns (LSE: PUB) dropped 4.8 percent to £10.32 after it issued a profits warning.

In London on Monday the FTSE 100 added 0.24 percent to 6,078.7 while the FTSE 250 was 0.16 percent higher to 10,703.8.

Power generators had a good day in London.

Drax Group (LSE: DRX) gained 1.9 percent to 634.5p, while electricity generator British Energy (LSE: BGY) was up 4.58 percent to 451.25p for the best performance on the 100.

Electricity transmitter Scottish & Southern Energy (LSE: SSE) was 1.7 percent higher to £14.44.

Miners also did well after metals prices advanced.

Rio Tinto (LSE: RIO) gained 3.22 percent to £30.78, while Kazakhmys (LSE: KAZ) added 4 percent to £11.70 and BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was 4.17 percent higher to £12.75.

The aerospace sector was up with BAE Systems (LSE: BA; OTCBB; BAESY) 3.48 percent higher to 431p and Meggitt (LSE: MGGT) adding 4.73 percent to 298.75p.

The best performer on the 250 was care homes operator Southern Cross Healthcare (LSE: SCHE), which gained 6.93 percent to 470.5p.

Insurers were mixed.

Prudential (LSE: PRU; NYSE: PUK) was up 1.1 percent to 657.5p, but Old Mutual (LSE: OML; JSE: OLOML) dropped 2.16 percent to 149.4p.

Property developers and investors were lower on the session.

British Land (LSE: BLND) had the worst day on the 100 as it fell 3.46 percent to £11.98. SEGRO (LSE: SGRO) fell 2.66 percent to 513p, while Daejan Holdings dropped 4.86 percent on the 250 to £33.30.

Publisher Reed Elsevier (LSE: REL; Euronext: REN; NYSE: ENL; NYSE: RUK) dropped 2.61 to 578p.

The markets in London also saw declines as the FTSE 100 fell 1.92 percent to 6,271.2 and the FTSE 250 was 2 percent lower to 11,225.5.

Shares in the financial services sector did not do very well for the most part on the 100.

Venture capital and private equity group 3i Group (LSE: III) was 5.8 percent lower to £10.56, while insurer Standard Life (LSE: SLET) fell 6.52 percent to 318.75p and hedge fund Man Group (LSE: EMG) was down 6.73 percent to 527p.

Not all in the financial services sector saw declines however.

Alliance & Leicester (LSE: AL) added 1.17 percent to £11.20 and insurer Benfield Group (LSE: BFD) gained 4.95 percent to 339p.

Insurance broker and risk management advisor Jardine Lloyd Thompson Group (LSE: JLT) had the best day on the 100 as it added 4.95 percent to 425p.

The best performer on the 250 was BSkyB (LSE: BSY), which gained 2.58 percent to 694.4p.

Other gainers included power transmitter National Grid (LSE: NG), which was 2.09 percent higher to 731.5p.

Chemicals group Reckitt Benckiser (LSE: RB) was up 1.5 percent to £27.74.

Defense contractor BAE Systems (LSE: BA; OTCBB: BAESY) added 0.9 percent to 440.25p after it said that first half profits were up a better-than-anticipated 27 percent on upgrades to its Bradley fighting vehicles for use by the US in Iraq and on the production of jet parts.

The biggest loser on the day on the 100 was miner Kazakhmys (LSE: KAZ), which was down 6.79 percent to £11.25.

In the pharmaceuticals sector, AstraZeneca (LSE: AZN; NYSE: AZN) dropped 3.5 percent to £24.30 on a safety review of its acid reflux drugs Nexium and Prilosec after two studies linked them to heart problems.

However, the Food and Drug Administration said that it had concluded on a preliminary basis that there is no increased risk to patients taking the drugs.

Equities markets were lower in London on Wednesday.

The FTSE 100 dropped 0.68 percent to 6,454.3, while the FTSE 250 was down 1.46 percent to 11,415.2.

Pharmaceutical group GlaxoSmithKline (LSE: GSK; NYSE: GSK) topped the 100, adding 2.33 percent to £12.75 on an unexpected increase in second quarter profits based on greater demand for its Advair asthma treatment.

GSK also announced an expansion of its share buy-back program.

Meanwhile on the 250, electronics and engineering group Renishaw (LSE: RSW), which makes gauges and meters, was the top performer with a gain of 14.33 percent to 684p/

Other gainers on the day included the banking sector.

On the 100, Northern Rock (LSE: NRK) added 1.87 percent to 817p, while on the 250 Bradford & Bingley (LSE: BB) gained 0.97 percent to 416.75p and Close Brothers Group (LSE: CBG) was up 1.93 percent to 845p.

Defense aerospace group BAE Systems (LSE: BA; OTCBB: BAESY) was 1.63 percent higher to 435.25p.

On the losing side, British Energy had the worst day on the 100, dropping 5.21 percent to 483.5p on a broker downgrade.

The worst performer on the 250 came from the semiconductors sector, where CSR (LSE: CSR) fell 11.28 percent to 770.5p.

The mining sector declined on copper prices that were lower.

Antofagasta (LSE: ANTO) was 2.47 percent lower to 723p, while Rio Tinto (LSE: RIO) was down 3.65 percent to £35.90.

On the 250, property developer Daejan Holdings (LSE: DJAN) fell 5.75 percent to £38.86, while builder Severfield-Rowen (LSE: SFR) dropped 5.69 percent to £22.36.

The London markets did not decline as much as the continental European markets did on Friday, but they were down as well.

The FTSE 100 fell 0.83 percent to 6,585.2, while the FTSE 250 dropped 0.51 percent to 11,819.4.

Gainers on the day included insurer Friends Provident, which had the best day on the 100 as it added 4.25 percent to 186.4p.

On the 250, consumer goods group SSL International (LSE: SSL) did the best, gaining 3.99 percent to 469.25p.

Other advances on the day included aerospace and defense group BAE Systems (LSE: BA; OTCBB: BAESY), which was up 1.6 percent to 428p.

Imperial Tobacco (LSE: IMT) was 1.11 percent higher to £22.78, while British Energy (LSE: BGY) gained 0.86 percent to 527.5p.

Off of the major indices, software company iSoft (LSE: IOT) added 19 percent to 65.5p after it received a bid from German computer information systems group CompuGroup (FWB: COP).

Miners were mixed on the session, with Antofagasta (LSE: ANTO) up 1.45 percent to 736p but Lonmin (LSE: LMI) was 2.72 percent lower to £36.85.

The biggest loser on the day on the 100 was Cable and Wireless (LSE: CW), which fell 3.6 percent to 182p on shareholder protests over executive pay.

British Airways (LSE: BAY; NYSE: BAB), meanwhile, dropped 2.83 percent to 420p on reports that the current stringent airport security measures could remain in place for the foreseeable future.

Asset management group Bluebay (LSE: BBAY) was the worst performer on the 250 as it dropped 4.91 percent to 430.75p.

Auto insurer Admiral Group (LSE: ADM) was 4.85 percent lower to 819p, while internet gamer PartyGaming (LSE: PRTY) fell 4.58 percent to 31.25p.

In London, the FTSE 100 added 1.11 percent to 6,640.2, while the FTSE 250 gained 1.32 percent to 11,880.2.

Miner Antofagasta (LSE: ANTO) was the best performer on the 100, where it was 5.37 percent higher to 725.5p.

The sector was mixed, however.

While Vedanta Resources (LSE: VED) was also higher, adding 4.22 percent to £18.04, Aquarius Platinum (LSE: AQP; ASX: AQP; JSE: AQP) was had the worst day on the 250, falling 3.41 percent to £16.15.

Property investment company Shaftsbury (LSE: SHB) did the best on the session on the 250, adding 9.16 percent to 608p. In the same sector, Minerva (LSE: MNR) gained 6.71 percent to 330p.

Back on the 100, aerospace and defense group BAE Systems (LSE: BA; OTCBB: BASEY) was 4.79 percent higher to 421.25p on the news that its proposed acquisition of Armor Holdings (NYSE: AH), which makes military and law enforcement equipment, has been approved by US antitrust authorities.

Insurer Old Mutual (LSE: OML; JSE: OLOML) was 4.58 percent higher to 175.9p on the news that Nedbank (JSE: NED), a South African bank in which it holds the majority stake, is in talks with Standard Chartered concerning a takeover.

Standard Chartered (LSE: STAN; SEHK: 2888) was lower on the report, dropping 0.77 percent to £16.71.

Pubs operators were lower on the session after Mitchells and Butlers (LSE: MAB) had the worst day on the 100, dropping 3.25 percent to 863p after a broker downgrade from “hold” to “sell” and the setting of a target share price at 790p on a report of a possible property deal.

In the same sector, JD Wetherspoon (LSE: JDW) fell 1.29 percent to 611p.

British Energy (LSE: BGY) was 1.23 percent lower to 523p after its chairman said that the power generator’s nuclear power output last year was “disappointing”.

The London equities markets saw advances on Thursday, helped out by the drinks sector and the announcement that Reed Elsevier will sell one of its divisions. The FTSE 100 added 0.19 percent to 6,433.3, while the FTSE 250 gained 0.29 percent to 11,574.60.

The drinks sector was helped out by Diageo, which posted higher half-year earnings even though there were challenges in some markets and a weakening of the dollar. The maker of Johnnie Walker whisky added 2.35 percent to on the day. Brewers were also boosted by a report that InBev is talking with US company Anheuser-Busch about a merger deal. SABMiller gained 1.9 percent to £11.98, while Scottish & Newcastle was 2.3 percent higher to 579p. S&N also benefited from rumors that it could be talking with Carlsberg about a deal.

Reed Elsevier added 6.6 percent to 644½p after it said it will sell its education publishing unit. The gain came even though its full-year report on earnings and revenue was below what had been anticipated.

Defense contractor BAE Systems was 2.5 percent higher to 454p ahead of a report due next week, after Credit Suisse upped its target share price from 465p to 500p.

Plumber Wolseley was hurt after Merrill Lynch removed it from its “buy” list, dropping 2.3 percent to £13.75.

Records were set Tuesday in London as both the FTSE 250 and the FTSE All-Share hit new record highs and the FTSE 100 closed at its highest level in six years. The 100 added 0.4 percent to 6,346.3, while the 250 was 0.6 percent higher to 11,479.4 and the All-Share gained 0.5 percent to 3,290.67.

Defense contractor BAE Systems added 2.8 percent on the session to 439¼p after US President George W. Bush asked for record defense spending in his 2008 budget, delivered to Congress on Monday.

Imperial Tobacco added 1.3 percent to £22.14 even though it was the target of a Deutsche Bank downgrade after rumors surfaced that it might receive a bid from Altadis of Spain in cooperation with private equity.

Supermarkets were higher on raised target share prices from UBS and on a report that a group of investors from Qatar had taken a 1 percent stake in J Sainsbury. Sainsbury was 1.3 percent higher to 516 on the report. Tesco added 1 percent to 438½p as UBS hiked its target share price to 550p, while Wm Morrison added 2.6 percent, to a new record share price of 311p, after its target was raised to 360p.

In the telecommunications sector Cable & Wireless gained 3 percent to 179½p, its highest share price in four and a half years, on reports that it could be a target of Deutsche Telekom. Analysts were not convinced of the rumors in the German press, saying that DT is in no position to make offers currently.