RBS shares climb as it confirms London move if 'yes' vote wins

Royal Bank of Scotland (RBS) shares were among the top risers this morning after it confirmed it will move its operations to London should Scotland vote to become independent.

In a statement, it said it would be “necessary to re-domicile the bank’s holding company”. However, it will keep a significant level of jobs in Scotland, where it has been based since 1727. The statement lifted shares by 1.6% to 347p, helping to offset losses this week. Shares are still down over 4% this week as market jitters and worries over the impact of a Scottish break-away weighed on the bank. Lloyds Banking Group, parent company of pensions provider Scottish Widows, Bank of Scotland and Halifax, has also said it had made contingency plans to shift some of its business from Scot...