We present observations with the adaptive optics assisted integral field sp
ectrograph OASIS of the M 31 double nucleus in the spectral domain around t
he Calcium triplet at a spatial resolution better than 0:"5 FW H M. These d
ata are used to derive the two-dimensional stellar kinematics within the ce
ntral 2 ". ArchivalWFPC2/HST images in the F300W, F555W and F814W bands are
revisited to perform a photometric decomposition of the nuclear region. We
also present STIS/HST kinematics obtained from the archive. The luminosity
distribution of the central region is well separated into the respective c
ontributions of the bulge, the nucleus including P1 and P2, and the so-call
ed UV peak. We then show, using the OASIS kinematical maps, that the axis j
oining P1 and P2, the two local surface brightness maxima, does not coincid
e with the kinematic major-axis, which is also the major-axis of the nuclea
r isophotes (excluding P1). We also confirm that the velocity dispersion pe
ak is offset by similar to0 "2 from the UV peak, assumed to mark the locati
on of the supermassive black hole. The newly reduced STIS/HST velocity and
dispersion profiles are then compared to OASIS and other published kinemati
cs. We find significant offsets with previously published data. Simple para
metric models are then built to successfully reconcile all the available ki
nematics. We finally interpret the observations using new N-body simulation
s. The nearly Keplerian nuclear disk of M 31 is subject to a natural m = 1
mode, with a very slow pattern speed (3 kms(-1)/pc for M-BH = 7 10(7) M-cir
cle dot), that can be maintained during more than a thousand dynamical time
s. The resulting morphology and kinematics of the mode can reproduce the M
31 nuclear-disk photometry and mean stellar velocity, including the observe
d asymmetries. It requires a central mass concentration and a cold disk sys
tem representing between 20 and 40% of its mass. Such a slow mode could be
excited when interstellar clouds from the more external gaseous disk infall
towards the centre. Nuclear disks formed from accreted gas are possible ca
ndidates for the precursors of these types of structures, and may be common
in central regions of galaxies.