European stocks rallied to a six-and-a-half-year high after a referendum rejected independence for Scotland, ending the uncertainty that weighed on markets. Asian stocks closed sharply higher.
Here are five things that matter for markets now:
- The results of the referendum over independence for Scotland put the vote firmly in the "no" camp, with 55%. The "yes" camp got 45% of the votes. The pound and stocks rallied after the results were announced.
- Chinese e-commerce giant Alibaba (BABA) priced its IPO at the top end of the range, $68 a share. This values the stake floated by the company at $21.8 billion and the whole of Alibaba at $167.6 billion.
- Treasury Secretary Jack Lew called on the eurozone and Japan to do more to spur growth, stressing that the U.S. remained a source of global growth. His remarks highlight what could be the main theme of discussion and source of disagreement at the G20 finance ministers meeting that takes place in Australia.
- German software maker SAP (SAP) will buy cloud computing specialist Concur (CNQR) for around $7.4 billion. This is the biggest acquisition ever by the German company and will be financed by a credit line worth $9 billion.
- U.K. drugmaker GlaxoSmithKline (GSK) said it was found guilty of bribery in China and fined nearly $492 million. The company said it cooperated fully with authorities and had taken steps to remedy the issues identified at its Chinese unit. According to Chinese media, this is the biggest fine ever levied on a company.