David Cameron has resigned as Prime Minister after Britain voted to leave the European Union.

With the Leave campaign securing 52 per cent of the vote, Cameron addressed the nation in an emotional speech outside 10 Downing Street to announce that he would be stepping down.

Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union.

Meanwhile, the London stock market has plunged in the wake of the UK’s referendum vote to leave the EU.

In the opening minutes of trade, the FTSE 100 index fell more than 8% before regaining some ground by mid-morning.

David Cameron has resigned as Prime Minister after Britain voted to leave the European Union.

With the Leave campaign securing 52 per cent of the vote, Cameron addressed the nation in an emotional speech outside 10 Downing Street to announce that he would be stepping down.

Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union.

Meanwhile, the London stock market has plunged in the wake of the UK’s referendum vote to leave the EU.

In the opening minutes of trade, the FTSE 100 index fell more than 8% before regaining some ground by mid-morning.

Banks were hard hit, with Barclays and RBS falling about 30%, although they later pared losses to about 17%.

Earlier, the pound fell dramatically as the referendum outcome emerged. At one stage, it hit $1.3236, a fall of more than 10% and a low not seen since 1985.
The Bank of England said it was “monitoring developments closely” and would take “all necessary steps” to support monetary stability.

And the Scottish First Minister has said she is determined to keep the country inside the EU and particularly in the single market, she says the Mayor of London will do the same.

She is seeking an urgent meeting with the European Commission in a bid to discuss options to keep Scotland in the EU.

Sturgeon said: “I want to make it absolutely clear that I intend to take all possible steps and explore all options to give effect to how people in Scotland voted, in other words to secure our continued place in the EU and in the single marker in particular.

She says the vote displayed a clear “divergence” and “disaffection with the political system that has failed in too many communities .

“The Westminster establishment has some serious soul searching to do and I hope very much it now does it.”

She called the Brexit outcome “democratically unacceptable” because the whole of Scotland voted to remain inside the EU and because so many people based their vote on the independence referendum on the notion that they would remain in the EU.

Sturgeon said: “If parliament judges that a second referendum is the best or only way to protect our place in Europe it must have the option to hold one within that timescale.