British pound, shares rise after Scotland rejects independence

GMT 16:07 2014 Friday ,19 September

Arab Today, arab today British pound, shares rise after Scotland rejects independence

British pound
Frankfurt - SPA

Pound sterling jumped and British shares climbed in London on Friday after Scotland rejected independence from the United Kingdom in a landmark referendum, dpa reported.
But sterling slipped to 1.163 dollars later in the afternoon as
investors began weighing the wider implications of the vote.
London's stock market FTSE-100 index was 0.7-per-cent higher at 6865
points in late afternoon trading, with the vote in Scotland also allaying investors' fears that a UK breakup could spur independence in other parts of Europe.
Shares in Madrid posted a hefty gain of 1.23 per cent in the morning
session as the Scottish vote appeared to reduce the risk of a push
for independence in Spain's Catalonia region.
But as the trading day drew to a close, stocks in Madrid were up just
0.3 per cent.
Bourses in other parts of the world also climbed, with the referendum
outcome removing the sense of uncertainty that has been hanging over
British financial markets.
Investors had experienced a roller-coaster ride of anxiety in recent
months when opinion polls showed the vote in Scotland as being too
close to call.
The question of which currency an independent Scotland would adopt
had played a central role in the referendum campaign.


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