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Shares rise as Scotland say no to independence


Share prices in companies listed on the London stock exchange have increased as a result of the Scottish independence referendum.

It was announced that Scotland voted against independence in the referendum, and as a result the FTSE 100 increased by 0.75% this morning.

The value of the pound also increased in response to the news that Scotland would remain a part of the United Kingdom. When it became clear that Scotland were set to vote “no” to independence, the pound hit a two year high against the dollar and a two week high against the Euro, although it start to did fall back this morning.

Scottish banks benefitted the most from the Scotland’s decision to remain a part of the UK. For example, Royal Bank of Scotland shares increased by over 3% when trading opened this morning, whilst Lloyds Banking Group shares increased by around 2%.

Uncertainty comes to an end

Over the last few months there was a degree of uncertainty over how the stock markets and the value of the pound would react to a “yes” vote for independence.

However, this uncertainty has now come to an end, and Jeremy Cook an economist at First World said that “the markets will go back to concentrating on the fundamentals of the economy”.

Martin Gilbert, chief executive at Aberdeen Asset Management also welcomed the end to uncertainty and claimed that Scotland will continue to grow with the UK economy.

He said: "Scotland has long been a world leader in business sectors such as oil and gas, whisky and investment and the task now is to grow the rest of the economy with the strong support of politicians of all parties."

This end in uncertainty was also met with announcements from Scottish based banks who said they would no longer be planning to move to England.

The Royal Bank of Scotland said in a statement: "The announcement we made about moving our registered head office to England was part of a contingency plan to ensure certainty and stability for our customers, staff and shareholders should there be a 'Yes' vote.

"That contingency plan is no longer required. Following the result it is business as usual for all our customers across the UK and RBS."

Lloyds Bank also released a similar statement that read: "The group is proud of its strong Scottish heritage and remains committed to having a significant presence in Scotland. We remain fully focused on supporting households and businesses in Scotland as well as right across the rest of the UK.”

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