FTSE 100 and sterling shrug at second Scottish independence referendum

LONDON — Stock and currency markets had a muted reaction to Monday’s announcement of plans for a second referendum on Scotland’s independence from Britain.

Scottish First Minister Nicola Sturgeon announced plans for a second plebiscite on the issue at a press conference at 11.30 a.m. GMT (6.30 a.m. ET) on Monday. She said it is the “right thing for the country” to give Scots the opportunity to avoid dropping out of the European single market through a “hard” Brexit.

Despite the potential for further political, economic, and social upheaval that a referendum offers, markets have largely ignored the announcement.

The FTSE 100 is up 0.26% at 12.20 p.m. GMT (7.20 a.m. ET), higher than it was before Sturgeon began speaking:

The FTSE 250, which is made up of mainly British companies, is up 0.28%:

The pound is up 0.44% against the dollar at the same time:

And sterling is up 0.48% against the euro:

Scotland held a referendum on independence in 2014. The country voted to remain in the UK 55.3% to 44.7%, with a turnout of 84.5%.

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