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Mix the raisins, cranberries and mixed peel in a bowl, pour over the rum, then leave to soak while you make the dough. Tip the flour into a large bowl and stir in ½ tsp salt, the yeast, sugar, nutmeg and lemon zest. Rub the butter in until the mix is like fine crumbs. Warm the milk to hand-hot, then mix into the egg. Pour the milk into the flour mix, then stir with a round-bladed knife to make a soft dough, adding a drop more milk if needed to mop up any dry crumbs in the bottom of the bowl. Gather the dough into a ball, then knead for 3-4 mins on a lightly floured surface. Put the dough into a lightly oiled bowl, cover with cling film and leave until the dough has risen to double the size (about 45 mins-1 hr).
Knead the dough 2 or 3 times, then roll out to a rectangle about 37cm x 17cm. Stir the chopped pistachios into the soaked fruits, then spread one-third of the fruit mix down the centre of the dough, leaving all the edges uncovered. Fold each side into the centre to overlap slightly. Press the edges with the rolling pin to seal, turn the dough, then repeat the rolling out and spreading of the fruit twice more. Roll out to a final rectangle that is 55cm x 16cm. Roll the marzipan into a sausage shape, so it’s slightly shorter than the length of the dough. Place it down the centre. Roll the dough over the marzipan, then turn the dough over so the join is underneath. Lift onto a buttered baking sheet, then curl the dough round a buttered 12cm round cake tin (see tip, below), brushing the ends with a little beaten egg and pinching them well together to seal.
Cover and leave to rise for 30-45 mins or until puffy and doubled in size. Heat oven to 190C/fan 170C/ gas 5. When the dough has doubled, brush with beaten egg and bake for about 25 mins until golden. Cool on the baking sheet briefly, then transfer to a wire rack.
Make up the icing. Stir 2-3 tsp water into the fondant icing sugar and, when the stollen has cooled, drizzle the icing over. Scatter over the extra cranberries and pistachios and decorate with holly.