The poor M&S Christmas sales showing led to a dour day for the FTSE 100, closing down 83.80 points (1.32%) to 6272.70.
Marks & Spencer’s festive struggles led it to the day’s largest loss, down 18.72% to 409.25.
Carphone Warehouse was one of the stocks to subsequently slide in the M&S shadow, dropping 11.32% to 299.75.
TUI Travel had its own misfortune after its parent firm announced a €500m equity issue fund raising. The tour group fell 14.22% to 218.75.
In more positive news, Lonmin led a miner rally, closing 3.62% higher to 3380. BAE Systems also did well, finishing Wednesday up 3.05% to 507.
In New York, Wall Street is on its way down this morning after a pretty promising start. The Dow Jones is slightly ahead at the moment, 2.68 points (0.02%) to 12591.75.
DuPont is leading the gains after strong Q4 sales led it to revise its 2007 profit forecast. The chemical firm is currently 4.7% ahead, to 44.76.
The strong DuPont result has led Johnson and Johnson to a solid start, up 1.75% to 68.11.
General Motors and Disney are struggling, down 4.46% to 22.26 and 2.46% to 29.79 respectively.
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