Standard content for Members only
To continue reading this article, please login to your Utility Week account, Start 14 day trial or Become a member.
If your organisation already has a corporate membership and you haven’t activated it simply follow the register link below. Check here.
The share prices of SSE and Infinis have increased after the Scottish push for independence was rejected in this morning's referendum results.
The positive market reaction saw SSE’s share price climb by 1.5 per cent on Friday morning, from 1,517.05p at the close of trading on Thursday to 1,552.1p per share by 9 o’clock on Friday morning.
Current trading levels are almost 5 per cent higher than lows of 1,478 pence seen ten days before the referendum when polls showed an increase in those supporting the yes campaign.
Renewable energy generator Infinis also saw the market react positively to the referendum outcome, with prices increasing by 2.8 per cent, from 216.9p by the close on Thursday to 223.4p per share by 9am on Friday.
Liberum Capital equity research analyst Peter Atherton tweeted: “Market reaction positive but not dramatic as investors seem to have called outcome better than the pollsters.”
Tony Ward, head of power and utilities at EY UK and Ireland, said that the ‘No’ vote has removed “a major uncertainty” for those considering “significant capital investments in Scotland”.
He added: “A ‘no’ vote is important for the whole of the UK in that it allows the established dynamic in the energy markets to continue its current course.”
Sterling also hit a two-year high against the Euro, and a two week high against the US dollar after the result of the referendum was announced.
The ‘no’ vote received more than 55 per cent of the votes in the Scottish referendum, which had an 84.59 per cent turnout, the highest in UK electoral history.
Please login or Register to leave a comment.