logo

European markets rally as Scots reject independence

Saturday, 20 September 2014



 LONDON, Sept 19 (AFP): Europe's main stock markets and the pound jumped on Friday as investors welcomed news that Scotland has voted to reject independence from the United Kingdom.
In early morning deals, London's benchmark FTSE 100 index added 0.67 per cent to 6,865.12 points, while sterling hit a two-year euro high in anticipation of victory for the "No" campaign.
In Paris, the CAC 40 index rose 0.57 per cent to stand at 4,490.60 points and Frankfurt's DAX 30 advanced 0.52 per cent to 9,848.76 compared with Thursday's closing level.
"European equities have surged out of the starting blocks as news that the Scottish Independence attempt has failed," said Capital Spreads dealer Jonathan Sudaria.
Scotland rejected independence in a referendum that left the centuries-old United Kingdom intact but paved the way for a major transfer of powers away from London.
Despite a surge in nationalist support in the final fortnight of the campaign, the "No" camp secured 55.30 per cent of the vote against 44.70 per cent for the pro-independence "Yes" camp in Thursday's referendum.