UK Stocks Rise After No Independence Vote Wins

Shares on the London stock market have risen after Scotland voted against independence.

The FTSE 100 share index was up 0.74% at 6,869.64 at 11.40 BST.

An initial rally in the pound faded. Overnight it hit a two-year high against the euro and a two-week high against the US dollar, but fell back during the morning.

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.

“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.”

via BBC

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