FTSE mauled by sliding M&S

The predicted gloom for Marks and Spencer came true, with UK like-for-like sales down by 2.2% in the 13 weeks to 29 December. M&S is currently down 19.07% to 407.50. TUI Travel is also being pounded, down 8.63% to 233 and Home Retail is leading the sharp across the board decline for retailers, 7.17% lower to 265.25. Miners are keeping the FTSE somewhat grounded, with Lonmin 2.05% up, to 3329; while British American Tobacco is currently 1.78% ahead to 2003. In New York, the Dow Jones plummeted in late Tuesday trading as news of a consumer credit hike rattled investors. The index closed...