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European shares edged up and sterling rose from multi-month lows on Thursday after a poll showing most Scots intend to vote against independence next week took the edge off concerns over the United Kingdom's future.
The pan-European FTSEurofirst 300 index rose 0.2%.
Sterling was steady at $1.6220, having recovered on Wednesday from $1.6051, its lowest since Nov. 15, after the Survation survey was released. The euro eased 0.1% to 79.605 pence, well below a three-month high of 80.66 pence struck on Wednesday.
The poll on behalf of the Daily Record newspaper showed 47% intending to vote "Yes" to independence and 53% against. Other recent surveys had put the rival campaigns neck-and-neck.
Brian Hennessey, portfolio manager of the Alpine Dynamic Dividend Fund, said that while the Scotland vote was creating some near-term uncertainty, the broader global economic backdrop remained reassuring for markets.
"The macroeconomic backdrop is favorable, with the labour market improving steadily in places like the U.S, Germany and the UK," said Hennessey.
Efforts by major central banks to prop up the global economy would also continue to support equities.
"We think the strong performance of US equities in a period marked by significant quantitative easing provides a good template for European equities," said Hennessey.
Stock markets further afield also edged up on Thursday, with the MSCI World Index, which tracks stocks from developed economies, gaining 0.1%.
CHINA STIMULUS?
US stocks ended higher overnight, which helped underpin Asian stock markets. Japan's Nikkei stock average added 0.8% to close at an eight-month high.
Hong Kong's Hang Seng Index and the Shanghai Composite Index both edged up after inflation data from China raised the possibility of more monetary easing.
Chinese consumer prices cooled more than expected in August, up 2.0% from a year earlier, missing market expectations for 2.2% and down from 2.3% in July. The data provides more evidence of economic slowdown and some economists said Beijing might announce fresh stimulus measures.
The Chinese inflation data pushed London copper prices to their lowest level in almost three months, while gold also traded near a three-month low.
"The comfortable inflation figure will provide sufficient room for the central bank to loosen its monetary policy. The possibility of an interest rate cut cannot be ruled out in coming months," said Li Huiyong, economist at Shenyin & Wanguo Securities in Shanghai.
Brent crude dropped below $98 a barrel on Thursday, falling for the sixth straight session, as worries about ample supply and weak demand, which have dragged prices to 17-month lows, outweighed political upheavals in the Middle East.
