FTSE declines on ECB decision to hold off helping Greece

UK FTSE 100 Index opened higher on Wednesday, supported by mining and energy stocks as developments Greece spurred hopes the country might avoid default. Rio Tinto PLC surged 1.4%, Fresnillo PLC added 0.2% and Kazakhmys PLC gained 2%. On the downside BHP Billiton PLC lost 1.2% after reporting a drop in its profit. During the session FTSE 100 climbed 0.1% but fell back into negative territory after ECB announced it may hold off on supporting Greece until key issues are finalized. At the moment of writing FTSE 100 is 0.15% or 8.34 points down at 5,882.08.