'Scotsie' index shrugs off vote concerns

An index of 14 Scottish companies labelled the 'Scotsie' has performed broadly in line with the FTSE 100 and FTSE 350 indices so far this year, despite increasing signs there could be a 'yes' vote on independence later this week.

Uncertainty over the future of Scotland prompted a slide in bank stocks at the start of last week, but subsequent confirmation from Royal Bank of Scotland (RBS) and Lloyds Banking Group that they would move their headquarters in the event of independence saw their shares regain ground. The overall impact, however, remains muted, according to the performance of an index of Scottish companies put together by Canaccord Genuity Wealth Management. The constituents of the ‘Scotsie' are Aberdeen Asset Management, Aggreko, Cairn Energy, First Group, Lloyds, RBS, Stagecoach, SSE, Standard Life...