Billions wiped off value of top UK companies as global markets reaction to Brexit vote

More than £50 billion (€61.5bn) has been wiped off the value of the UK’s biggest companies after Britain voted to leave the European Union.

The Ftse 100 Index closed down 3.15%, falling 199.41 points to 6138.69, as it recovered from a 7% plunge earlier in the session when David Cameron announced he would quit as prime minister by October following the Brexit vote.

In a potential sign of things to come, Morgan Stanely was forced to deny reports earlier in the day that it had begun moving 2,000 jobs from London to Dublin and Frankfurt in the wake of the UK decision.