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    July 25, 2007

    CSR drops over 11 percent on 250

    Filed under: Companies, Northern Rock, GlaxoSmithKline, Rio Tinto, Antofagasta, Bradford & Bingley, British Energy, BAE Systems, CSR, Severfield-Rowen, Daejan Holdings, Close Brothers Group, Renishaw

    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.





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