Update: QE and mining stocks fuel FTSE rise

The index stood at 5,218, a rise of 115 points or 2.3%, just after midday today. In the FX markets, the pound fell by a cent and a half against the dollar (0.9%) immediately after the announcement - the lowest since July 2010. Before the BoE's midday release, it was miners that fuelled the FTSE's early rise. ENRC was up 9%, with Roi Tinto up 5.8% and Vedanta 6.6%, as metal prices rose - most notably copper, up 4.1% to $3.23 a pound. Other European markets performed strongly, after Luxembourg said it had lined up an invester to take a majority share in Dexia BIL, the Luxembourg a...