LONDON – Businesses and investors have reacted with relief to Scotland’s decision to reject independence from the United Kingdom.
With all but one of the 32 Scottish councils having declared, the No campaign won 55.4 per cent of the votes cast in Thursday’s referendum. The 10-point victory margin was wider than expected – most opinion polls on the eve of the vote showed a narrower 4-point victory.
WATCH: UK Prime Minister David Cameron delighted Scotland remains part of UK and says he will work with Scotland to build brighter future
British stocks responded positively to the news Friday, with the FTSE 100 index up 0.7 per cent in early trading. Royal Bank of Scotland PLC, which is majority-owned by the U.K. government, was up over 4 per cent and said it was “business as usual” for its customers.
In the currency markets, the pound was solid too, rising to a two-year high against the euro.
Comments