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Shares and sterling rise after Scotland votes 'No'

19 Sep 2014

The FTSE 100 share index and the pound have both risen following Scotland’s rejection of independence in yesterday’s referendum

After several weeks in which the pound had fallen amidst fears that Scotland would vote to exit the Union, sterling hit a two-year high against the euro and also jumped nearly 0.8% against the US dollar.

Meanwhile, the FTSE 100 share index opened 0.7% higher, rising to 6,860.

Shares in RBS were up more than 3% as the bank confirmed it would not be moving its registered head office now that Scotland had determined to remain part of the UK.

An RBS press release stated: "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 Banking Group, whose shares opened nearly 2% higher, stated: "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."