World stocks higher after Fed as Scotland votes
Source: AP-EXCITE
By YOUKYUNG LEE
SEOUL, South Korea (AP) — World stocks were mostly higher Thursday as Scotland voted in an independence referendum that could shake the U.K. economy and markets. Sentiment was underpinned by the Federal Reserve's signal it is not rushing to raise interest rates.
KEEPING SCORE: Britain's FTSE 100 added 0.2 percent to 6,793.59 and Germany's DAX rose 0.8 percent to 9.739.02. France's CAC 40 advanced 0.6 percent to 4,458.25. Wall Street was set for further gains after the Dow set a record-high in the previous session. S&P 500 and Dow futures were both up 0.2 percent.
SCOTTISH VOTE: Scotland opened polling stations on Thursday for a referendum on whether the country will leave its union with England, Wales and Northern Ireland and become an independent state. The first exit polls will be released after voting closes at 10 p.m. local time, or 2100 GMT. Opinion polls have suggested the "Yes' campaign favoring independence is neck and neck with the 'No' campaign that wants Scotland to stay in the United Kingdom.
THE QUOTE: "A 'yes' vote is likely to weigh heavily on the sterling and equities. A 'no' vote should result in a relief rally and is likely to be positive for the sterling and equities," said IG strategist Stan Shamu in a market commentary. "However, even if we get a 'no' vote, I feel the recovery will be capped by the fact this whole situation is likely to give rise to further structural issues in the not-too-distant future. "
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A television screen on the floor of the New York Stock Exchange shows the decision of the Federal Reserve, Wednesday, Sept. 17, 2014. The Federal Reserve is signaling that it plans to keep a key interest rate at a record low for a considerable period because a broad range of U.S. economic measures remain subpar. (AP Photo/Richard Drew)
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