This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-29268196
The article has changed 11 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Scottish referendum: Pound and shares rise on 'No' vote | |
| (35 minutes later) | |
| The pound has hit a two-year high against the euro and a two-week high against the US dollar, as Scotland voted against independence. | The pound has hit a two-year high against the euro and a two-week high against the US dollar, as Scotland voted against independence. |
| The FTSE 100 share index also opened higher, rising 0.7% to 6,860. | |
| In Asian trade, sterling jumped 0.43% to 1.2743 euros. The pound also jumped nearly 0.8% to $1.6525 against the US dollar, before falling back slightly. | |
| Meanwhile RBS confirmed it would not be moving its registered head office now that independence had been rejected. | Meanwhile RBS confirmed it would not be moving its registered head office now that independence had been rejected. |
| "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," the bank said. | "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," the bank said. |
| "That contingency plan is no longer required. Following the result it is business as usual for all our customers across the UK and RBS." | "That contingency plan is no longer required. Following the result it is business as usual for all our customers across the UK and RBS." |
| In a statement, Lloyds Banking Group said: "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." | In a statement, Lloyds Banking Group said: "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." |
| Over the past couple of weeks the pound had fallen on fears that Scotland would vote in favour of independence. | Over the past couple of weeks the pound had fallen on fears that Scotland would vote in favour of independence. |
| Jeremy Cook, economist at World First said: "The obvious risk to the currency markets was a yes and that would have caused a big sell off. Now the markets will go back to concentrating on the fundamentals of the UK economy." | Jeremy Cook, economist at World First said: "The obvious risk to the currency markets was a yes and that would have caused a big sell off. Now the markets will go back to concentrating on the fundamentals of the UK economy." |
| 'Focus on growth' | 'Focus on growth' |
| Shares prices in London opened higher, with RBS up more than 3% and Lloyds Banking Group up nearly 2%. | |
| Brenda Kelly from IG Index said: "Investors in these firms will be relieved that management will be able to devote their time to business performance, rather than fretting about contract changes or headquarter moves. | Brenda Kelly from IG Index said: "Investors in these firms will be relieved that management will be able to devote their time to business performance, rather than fretting about contract changes or headquarter moves. |
| "There is still uncertainty, primarily over the new changes to voting on English issues, but these are of importance primarily to politicians and less so to markets," she added. | "There is still uncertainty, primarily over the new changes to voting on English issues, but these are of importance primarily to politicians and less so to markets," she added. |
| The boss of Aberdeen Asset Management, Martin Gilbert, who had previously said that Scotland "would prosper" as an independent county, also welcomed the end to the uncertainty of the last few months. | The boss of Aberdeen Asset Management, Martin Gilbert, who had previously said that Scotland "would prosper" as an independent county, also welcomed the end to the uncertainty of the last few months. |
| "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," said Mr Gilbert. | "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," said Mr Gilbert. |
| The business lobby group IoD Scotland said the most important thing now was for the country to get together and focus on growth. | The business lobby group IoD Scotland said the most important thing now was for the country to get together and focus on growth. |
| "Perhaps the most urgent challenge for our politicians will be to unite Scotland - no matter which way people voted - and focus on building an enterprise culture that will generate the wealth that is desperately needed," it said. | "Perhaps the most urgent challenge for our politicians will be to unite Scotland - no matter which way people voted - and focus on building an enterprise culture that will generate the wealth that is desperately needed," it said. |
| 'Disruption avoided' | 'Disruption avoided' |
| Analysts also said that the result reduced the risk of the UK leaving the European Union. | Analysts also said that the result reduced the risk of the UK leaving the European Union. |
| "Scottish residents are more in favour of remaining in the EU, compared to the rest of the UK where the majority favour an exit. Overall, major disruption has been avoided and focus can now return to building on the strong economic recovery in progress, " said Azad Zangana, economist at Schroders. | "Scottish residents are more in favour of remaining in the EU, compared to the rest of the UK where the majority favour an exit. Overall, major disruption has been avoided and focus can now return to building on the strong economic recovery in progress, " said Azad Zangana, economist at Schroders. |
| "The Bank of England is now likely to press ahead with raising interest rates early next year in the absence of political uncertainty," he added. | "The Bank of England is now likely to press ahead with raising interest rates early next year in the absence of political uncertainty," he added. |
| Stock markets in Asia were mostly higher, taking their cues from Wall Street. | Stock markets in Asia were mostly higher, taking their cues from Wall Street. |
| US stocks rose on Thursday, one day after the central bank - the US Federal Reserve - said it would maintain its pledge to keep interest rates low. Those comments helped to lift the Dow Jones Industrial Average and the S&P 500 index to record highs. | US stocks rose on Thursday, one day after the central bank - the US Federal Reserve - said it would maintain its pledge to keep interest rates low. Those comments helped to lift the Dow Jones Industrial Average and the S&P 500 index to record highs. |