The City roundup: Huge trading levels expected after Scottish vote

Video: Alex Lawson provides a run-down of the day's major news from the City

Click to follow
The Independent Online

Get the latest business news with our daily roundup of the biggest news from the City.

There's no prize for guessing what is dominating the business agenda today.

The Square Mile is expected to experience unprecedented levels of trading in foreign-exchange markets and shares when the results of the Scottish referendum over independence are announced early tomorrow.

Traders are hedging their bets on where the pound would rise or fall against other currencies on the announcements and major banks in the City and Canary Wharf said that they would have more traders in and at an earlier time than usual tomorrow.

There’s plenty going on on the corporate front too.

EasyJet continues to blaze an orange trail through the sky – buying 27 new planes to ramp up the pressure on archrival EasyJet.

However, effervescent founder Sir Stelios Haji-Ioannou’s people said EasyJet's purchase from Airbus would be “destructive of shareholder value” and raged that they would be holding management to account.

And finally, the tussle over the future of Phones 4U rumbles on.

A call between bondholders this afternoon is expected to discuss a plan to swap its debt for equity in the business.

Comments