FTSE recovers after global sell-off

Global markets plunged yesterday afternoon after disappointing US manufacturing and housing data added to growing concerns of stuttering global growth. In London this morning, miners rose on news Australia had watered down its mining tax. Tullow Oil was the biggest winner, up 30.50 points (3.08%) to £10.22, while Xstrata was up 16.90 points (2%) to 862p. However, BP was the biggest loser at 324p, down 3.45 points (1.05%), as the beleaguered oil giant continued to suffer the fallout from the Gulf of Mexico spill. Water company Severn Trent also performed poorly, dropping 0.58% to £1...