Euro markets buoyant after Scotland 'No' vote

NTB/The Local
NTB/The Local - [email protected] • 19 Sep, 2014 Updated Fri 19 Sep 2014 11:56 CEST
image alt text

The campaign for Scottish Independence, which was largely centred on economic viability, helped the European money markets have an upturn on Friday as the majority of Scotland voted 'no' in its referendum.

The final results from the national vote which began at 7am on Thursday were announced on Friday morning, and the victory of the “no” vote among the Scottish public contributed to upswings in stock markets across Europe.

In Oslo, the atmosphere was more dampened. The main index is on 618.90 points, with marginal 0.01 percent.

After an hour’s trade, Statoil is - as usual - the most turned over stock. Its value down 0.5 percent.
 
Next up, Seadrill is down 0.8 and Subsea down 1.0, both had negative starts to Friday. Things however were looking good for Yara (up 0.4), PGS ( up 0.6) and Royal Caribbean Cruises (up 1.1).
 
Out in Europe, the situation was even more buoyant. In Paris, the CAC 40 index rose 0.4 percent, while the DAX index in Frankfurt and the FTSE 100 index in London were both up 0.6 percent.
 
The upswing is explained by the Scottish independence vote giving a majority against independence, something that DNB Markets mention in their analysis, according to E24.
 
DNB stated: “The markets are relieved, and the politicians in Westminster are probably as well, fearing a separation after the poll. The pound is strengthened after the polls indicated that is a victory for the 'no’ side.”
 
Oil prices went down on Friday. North sea oil was valued at 97.48 dollars a barrel, while the equal amount of American light oil came in at 91.60 dollars.
 
Meanwhile Prime Minister of Norway, Erna Solberg, is happy that Scotland will still be part of the UK.
 
Solberg said to NRK: “It would have been a lot of unrest in the area, being close to us, if they were to split up such an interwoven country as Great Britain is. It would have been demanding, also for Norway, if a separation happened.”
 

More

Comments

NTB/The Local 2014/09/19 11:56

Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also