- Massive losses expected when London stock market opens
- Farage welcomes 'victory for decent people'
- Cameron will have to resign if Britain votes for Brexit, says Benn
- Sterling's 8% fall is biggest ever one-day move
- Pound falls 6%
- Labour party 'working to assumption leave will win'
- Leave on course for 12-point lead, Sky predicts
In Wales 21 of 22 results have been declared – 17 for leave, four for remain. Running totals in Wales are 52.9% for leave and 47.1% for remain. Only Gwynedd to go. Wales is very much out.
Julie Morgan, Labour assembly member for Cardiff North and the wife of former first minister Rhodri Morgan, welcomed a win for remain in the capital. But she said her party needed to analyse why its heartland seats in the valleys and in cities like Swansea and Newport had voted to leave.
Massive losses expected when London stock market opens
City traders are bracing for a massive selloff when the London stock market opens at 8am.
The futures market is indicating that the FTSE 100 index of blue-chip shares will plunge by 480 points, a drop of around 7.5%.
That would wipe around £120bn off the Footsie, which is home to many of Britain’s biggest companies.
Shares in banking giant HSBC have already plunged by 8% in Hong Kong (its shares are listed there, and in London).
Bristol voted strongly for staying in the EU, with remain getting more than 53,000 votes more than the leave camp.
In total, remain got 141,027 votes, more than 62% of the total cast, and leave 87,418. Sources in the leave camp say they were facing an uphill struggle as the city had been strongly leaning left, with the Greens campaigning hard. They also point out that the new mayor, Marvin Rees, had energised Labour voters. Remain supporters cheered the declaration but most left promptly – stunned by the nationwide results.
The SNP’s Westminster leader, Angus Robertson, has told ITV news that the scenario whereby Scotland votes to remain but the rest of UK opts for Brexit will trigger a “constitutional crisis”.
And with all but two results now declared in Scotland – with remain so far winning in 30 of 32 council areas across the country – it is painfully obvious that the constituent parts of the UK have voted in very different directions.
Granted, the remain vote in Scotland has not been decisive across the country: in Moray, for example, remain scraped through with 50.1%. But this is precisely the scenario that Nicola Sturgeon has been warning of since the EU referendum was first tabled: Scotland being “dragged out of the EU against its will”.
The SNP’s manifesto was clear: this scenario represents a “material change” in circumstances that could trigger a second independence referendum.
In her interview with the Guardian earlier this week, Sturgeon set out the next steps:
If there’s a leave vote … then there will be things I’ll want to do very quickly to assert our ability to have a direct voice both with the UK government and with Europe.But also our manifesto was very clear that the Scottish parliament should in these circumstances have the right to propose another referendum. Even if we don’t take the decision straightaway that it’s definitely happening in a particular timescale we’ll have to start doing certain things to keep that option open. It takes time to legislate for a referendum. So it’s going to be really important to make sure that every option that is available to Scotland to protect our position is kept open.
Updated
Resounding win for leave in Clacton, Essex, with only 25,210 voting to remain, while 57,437 voted to get out of Europe.
Chris Griffiths, a councillor for the Conservatives, said it was turning into a great night. He said:
The people have spoken and they’re saying it’s time to leave. There’s a lot of anger and disaffection in the area – they are fed up with Europe.
Ukip councillor Richard Everett said that Vote Leave had been very successful in getting out the vote:
We’ve done a much better job in our areas. I’ve been very pleased with this evening.
Updated
— Jill Treanor (@jilltreanor)June 24, 2016
Sterling dollar over the last 30 years .... pic.twitter.com/fFd7kUgzJG
— Jill Treanor (@jilltreanor)June 24, 2016"We are through 35" says Jeremy Cook at World First. The lowest since 1985. Happens as Nigel Farage appears on TV
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