European shares rose higher on Friday, with the final result showing Scotland has rejected independence in a referendum held on Thursday.
By 8.30 a.m. London time all 32 counts had been declared, confirming that unionists had been victorious with a majority 55 percent of the vote against independence. The total turnout for the referendum was given as 84.59 percent.
The FTSE 100 traded 0.6 percent higher, with the broader FTSEurofirst 300 up 0.5 percent. U.K. banks Lloyds and RBS were sharply higher, up by 1 percent and 3 percent respectively, with both confirming that they would not be re-domiciling their headquarters to England after Friday's result.
The U.K.'s financial sector as whole was also buoyed by the outcome after previous fears regarding currency, pensions and debt burdens before the vote. Firms like Hargreaves Lansdown, Aderbeen Asset Management, St James Place and Schroders were major gainers on the U.K.'s blue-chip index. Engineering group Babcock also rose by 1.7 percent and cyclical stocks like supermarkets Tesco and Sainsbury were also showing healthy gains.
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In his losing speech, Scottish nationalist leader Alex Salmond demanded the U.K. government meet its promise of more powers for the country. "Scotland will expect these to be honored in rapid course," Salmond said.
Meanwhile, Former finance minister Alistair Darling, who was at the forefront of the Unionist campaign, thanked his supporters and said that it was a "momentous result" for both Scotland and for the United Kingdom.
David Cameron, the U.K. prime minister, said he was "delighted" at the result adding that it was time for the U.K. to come together and move forward. He announced a new "balanced settlement" for Scotland which would involve draft legislation - to be ready by January - that could give the country more powers on tax, spending and welfare. He also said that further devolution should be offered to Northern Ireland and Wales, and outlined that England could also expect to have more say on the laws that solely affect its citizens.