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.

Both the FTSE 100 and FTSE 250 were lower in London on Tuesday. Among the circumstances leading to the declines were word of terrorist bombings in Mumbai and a slow start for the markets in New York. The FTSE 100 dropped 0.6 percent to 5,857.3, while the FTSE 250 fell by 0.7 percent to 9,320.3.

Companies with exposure in India were hurt by news that terrorists had bombed several train stations and trains in Mumbai, with considerable loss of life. Vedanta Resources declined by 1.6 percent to £13.70, while Cairn Energy was down 2.3 percent to £20.85 and Standard Chartered dropped 2.7 percent to £12.87.

There were big losses in the semiconductor sector, as Wolfson Microelectronics fell 13.2 percent to 386¼p, for the largest decline on the 250, on speculation that its second-quarter report could contain less than positive news. Elsewhere in the sector, wireless chip designer CSR declined by 7.5 percent to £11.

Among banks, Barclays lost 1.4 percent to 609p on rumors that it has received a broker downgrade due to slow growth in its investment banking unit.

There were few stocks in the black for the day. In the retail sector, Marks & Spencer added 0.3 percent to 585p on a first-quarter trading update that was in line with expectations. Pubs group Enterprise Inns gained 0.4 percent to 958p, while Scottish & Southern Energy gained 0.7 percent to £11.80.

In London on Thursday the equities markets finished higher at the end of a holiday-shortened week. The FTSE 100 added 0.4 percent to 6,029.4 and the FTSE 250 closed at 9,775.0, an advance of 0.8 percent.

Bid rumors were still common. In the telecommunications sector, Vodafone gained 3.2 percent to 128¼p, benefiting from continued rumors that US company Verizon Communications might offer for it. Meanwhile, pub and bar group Mitchells & Butlers was up substantially after a group led by Robert Tchenguiz admitted that they have approached M&B. The news sent M&B up by 7.3 percent to 497½p.

Upgrades from UBS also worked in favor of some shares. Chipmaker CSR advanced by 5.4 percent to £12.65 after UBS raised its target share price from £12.50 to £14.50. Likewise, VT Group added 4.7 percent on an increase of its target share price from 540p to 600p.

In the internet gaming sector, PartyGaming gained 4.7 percent to 151¾p ahead of a trading update due next Tuesday.

Engine manufacturer Rolls-Royce Group was up after it announced that it is now addressing its pension fund deficit with its UK pension funds. R-R rose 2.6 percent to 480p.

Miners were down after recent gains, with Anglo American losing 1.1 percent to £23.66. Banks didn’t fare much better. Northern Rock, for example, lost 1 percent to £10.98.