FTSE falls back 2%

At 9.39am the FTSE 100 Index had lost 123.10 points, or 2.16%, to 5583.20. Anglo American, the world's second-largest mining company, has declined 4.3% to 1894p while larger rival BHP Billiton has lost 3.7% to 963.5p. Xstrata has also slumped 7.4% to 1789p. Copper has fallen as much as 1.8% to $7,650 in London, leading declines of aluminum, nickel and zinc. Gold is also trading near a six-week low in Asia on speculation the European Central Bank President Jean-Claude Trichet will today raise rates to curb inflation, eroding demand for the precious metal as an alternative to bonds. Ja...