Growing concerns over the US economy sent UK blue chips plunging into negative territory today, with news of a raft of high profile potential takeovers unable to stem the losses.

Food to fashion retailer Marks & Spencer led the blue chip fallers on the London market today as the group's cautious outlook took the shine off strong profits.

Profit taking and weaker metal prices caused the mining sector to drag on the London market today, while fading hopes of a bid battle for supermarket giant Sainsbury did little to cheer investors.

The London market ran out of steam today as British Airways and the operator of the UK’s biggest coal-fired power station both sustained heavy losses.