After an opening which saw losses across the board on Footsie London shares recovered well, with a substantial part of the benchmark index's decline caused by the weakness of mining and oil stocks.

Footsie is fighting back from its early morning hammering with Marks & Spencer in the vanguard.

Miners and financials drag London lower following heavy falls on Wall Street overnight and after the British Chambers of Commerce described the economic situation here as 'grim and ominous'.