Cameron Trading Post Online Butikken

Kent Online Kent Online David Cameron så på Ashford Stasjon Den tidligere statsministeren ble oppdaget av passasjerer som slengte av plattformen på en jernbanestasjon i morges. Josh Baxter tok et øyeblikk av David Cameron da han kom av høyhastighetstjenesten på Ashford International stasjon sammen med andre pendlere. Mr Cameron syntes å være alene og hadde en mørk drakt med skjorte og slips, svarte sko, og klamret en liten koffert. David Cameron ble oppdaget på Ashford-stasjonen. Han stod som statsminister etter at han ikke hadde overbevist velgerne om at Storbritannia skulle forbli medlem av EU ved folkeavstemningen i juni. Flyttet begynte i utgangspunktet kaos i det konservative partiet, da parlamentsmedlemmer som Liam Fox, Stephen Crabb, Andrea Leadsom, Michael Gove og Boris Johnson alle syntes å dumpe for ledelsen mot favoritt Theresa May. Mr Cameron stod da som medlem av parlamentet for Witney i Oxfordshire i september, og har siden avtalt en pund800.000 bokavtale for sine memoarer med utgiver William Collins. Det ser ut til å ha vært en travel uke for ham, som ifølge Midtøsten Eye han møtte kronprins Salman bin Hamad al-Khalifa i Bahrain på tirsdag. Han dedikerer nå tid til den nasjonale medborgerskapstjeneste veldedighet, så vel som å gå på den offentlige talerkretsen, der han påstår å tjene seks figurer. Mest populæreBrexit stemme: Transkripsjon av David Camerons fratredelse tale Storbritannias statsminister til å trekke god morgen alle sammen. Landet har nettopp deltatt i en gigantisk demokratisk øvelse, kanskje den største i vår historie. Over 33 millioner mennesker fra England, Skottland, Wales, Nord-Irland og Gibraltar har alle hatt sitt uttrykk. Vi burde være stolte av det faktum at vi på disse øyene stoler på folket med disse store beslutningene. Vi har ikke bare et parlamentarisk demokrati, men på spørsmål om hvordan man styrte, er det tider når det er riktig å spørre folket selv, og det er det vi har gjort. Det britiske folket har stemt for å forlate EU, og deres vilje må respekteres. Jeg vil takke alle som deltok i kampanjen på min side av argumentet, inkludert alle de som satt bort partidifferanser for å snakke i det de trodde var den nasjonale interessen. Og la meg gratulere alle de som deltok i Leave-kampanjen, for det livlige og lidenskapelige tilfellet de laget. Det britiske folks vilje er en instruksjon som må leveres. Det var ikke en beslutning som ble tatt lett, ikke minst fordi så mange ting ble sagt av så mange forskjellige organisasjoner om betydningen av denne beslutningen. Så det kan ikke være tvil om resultatet. Over hele verden har folk sett et valg som Storbritannia har gjort. Jeg vil forsikre disse markedene og investorene om at Britains økonomi er fundamentalt sterk, og jeg vil også forsikre briter som bor i europeiske land, og europeiske borgere som bor her, at det ikke vil bli noen umiddelbare endringer i forholdene dine. Det vil ikke bli noen innledende endring i måten våre folk kan reise på, slik varene våre kan flytte, eller hvordan våre tjenester kan selges. Vi må nå forberede oss på forhandlinger med EU. Dette må innebære fullt engasjement fra skotsk, walisisk og nord irlands regjeringer for å sikre at interessene til alle deler av vårt britiske Storbritannia er beskyttet og avansert. Men fremfor alt vil dette kreve sterk, fast og engasjert ledelse. Jeg er veldig stolt og veldig beæret over å ha vært statsminister i dette landet i seks år. Jeg tror at vi har gjort store skritt med flere mennesker i arbeid enn noen gang i vår historie, med reformer til velferd og utdanning, økende folks livssituasjoner, å bygge et større og sterkere samfunn, holde våre løfter til de fattigste i verden, og gjør det mulig for de som elsker hverandre å gifte seg, uansett deres seksualitet. Men fremfor alt, gjenoppretter Britains økonomiske styrke. Og jeg er takknemlig for alle som bidro til å få det til å skje. Ive har også alltid trodd at vi må konfrontere store beslutninger, ikke dukke dem. Derfor leverte vi den første koalitionsregeringen på 70 år for å bringe vår økonomi tilbake fra randen. Det er derfor vi leverte en rettferdig, lovlig og avgjørende folkeavstemning i Skottland. Og det er derfor jeg gjorde løftet om å gjenforhandle Britains stilling i EU, og å holde en folkeavstemning om medlemskapet vårt, og har gjennomført disse tingene. Ive kjempet denne kampanjen på den eneste måten jeg vet hvordan - som er å si direkte og lidenskapelig hva jeg tenker og føler, hode, hjerte og sjel. Jeg holdt ingenting tilbake. Jeg var helt klar over min tro på at Storbritannia er sterkere, tryggere og bedre i EU. Og jeg gjorde klart folkeavstemningen handlet om dette og dette alene, ikke fremtiden for en eneste politiker, inkludert meg selv. Men det britiske folk har gjort en veldig klar beslutning om å ta en annen vei, og som sådan tror jeg landet krever friskt lederskap å ta det i denne retningen. Jeg vil gjøre alt jeg kan som statsminister til å stabilisere skipet i de kommende ukene og månedene, men jeg tror ikke det ville være riktig for meg å prøve å være kapteinen som styrer landet vårt til sin neste destinasjon. Dette er ikke en beslutning jeg har tatt lett. Men jeg tror det er i den nasjonale interessen å ha en stabilitetsperiode, og da krever det nye lederskapet. Det er ikke behov for en presis tidsplan i dag, men etter min mening bør vi sikte på å få en ny statsminister på plass ved konservative partskonferanse i oktober. Å levere stabilitet vil være viktig, og jeg vil fortsette i stillingen som statsminister med min kabinett for de neste tre månedene. Skapet møter mandag. Guvernør i Bank of England gjør en erklæring om de trinnene som banken og statskassen tar for å berolige finansmarkedene. Vi vil også fortsette å ta frem den viktige lovgivningen som vi satte for parlamentet i Queens-talen. Og jeg har snakket med Hennes Majestet dronningen i morges og rådet henne om de trinnene jeg tar. En forhandling med EU må begynne under en ny statsminister, og jeg tror det er riktig at denne nye statsministeren tar avgjørelsen om når du skal utløse artikkel 50 og starte den formelle og juridiske prosessen med å forlate EU. Jeg skal delta på Det europeiske råd neste uke for å forklare hvilken beslutning det britiske folket har tatt, og min egen beslutning. Det britiske folket har gjort et valg. Det trenger ikke bare å bli respektert, men de på den tapende siden av argumentet - inkludert meg selv - skal bidra til å få det til å fungere. Storbritannia er et spesielt land. Vi har så mange gode fordeler. Et parlamentarisk demokrati der vi løser store problemer om vår fremtid gjennom fredelig debatt. En stor handelsnasjon med vitenskap og kunst, vår konstruksjon og vår kreativitet respekterte verden over. Og mens vi ikke er perfekte, tror jeg at vi kan være en modell av et multiracial multifolkdemokrati hvor folk kan komme og bidra og stige til det aller høyeste som deres talent tillater. Selv om jeg forlot Europa ikke var veien jeg anbefalte, er jeg den første til å rose våre utrolige styrker. Ive sa før at Storbritannia kan overleve utenfor EU, og faktisk at vi kunne finne en måte. Nå har avgjørelsen blitt truffet for å forlate, vi må finne den beste måten. Og jeg vil gjøre alt jeg kan for å hjelpe. Jeg elsker dette landet, og jeg føler meg ære å ha tjent det, og jeg vil gjøre alt jeg kan i fremtiden for å hjelpe dette store landet til å lykkes. Tusen takk. Kontaktpersoner som trenger, eller har tilgjengelig, elementer knyttet til innsamling eller restaurering av COCKSHUTT-utstyr og - minnesmerker. For å plassere en annonse, send e-post rbonnin14gmail Gi oss beskjed når du skal avbryte en annonse hvis varen er solgt. 2617 Reproduksjon 3-punkts forlengelsesdeler vil bli brakt til 2017 Spring Meet på forespørsel. Hvis du leter etter disse delene, vennligst send e-post eller ring før møtet. Kontakt: Chuck Phillips Telefon: 814-282-0208 E-post: usmcretzoominternet 2117 ICCI-vårmøtet i 2017 i Johnson Creek, Wisconsin ligger rett rundt hjørnet. Jeg vil bringe mesteparten av ICCI-minnene til visning og salg som vanlig. Hvis det er noe spesielt, vil du slippe meg et notat for å forsikre deg om at jeg har det for deg som hauling plass er begrenset. Jeg vil bringe svært lite brukt og restaurering deler, så hvis du trenger noe igjen, slipp meg et notat for å bedre sjansen jeg kan ha den. Kontakt: Irv Buttray E-post Snrdrillmsn eller ring 724-253-4285 TIL SALG: Til salgs: 1953 Co-op E5 traktor. Sn. 309 Standard bred front, bergaksel, pto, fenders, hydraulikk. Gjenopprettet i 2000. Spør 4000.00 eller beste tilbud. Steven Canfield Crawfordsville, In. 317-800-9980 TIL SALG: 1949 cockshutt 30 til salgs sandblasted, primet og malt, mange mange nye deler viser eller jobber klar 3500 OBO Kontakt: John Williamson 134 w Joliet St Schererville, I 46375 219 808 7546 TIL SALG: Cockshutt 50D Traktor, Motor ndash 6DA273, Seriell 73039, Original Maling, Originalt Alt, Remskive, PTO, Bak Hydraulikk, 4 Nye Dekk og Rør Cockshutt 110 Drill Cockshutt Deler: 1-50D Injeksjonspumpe Ndash Ny 1-50D Rebuilt Starter 1-50D Rebuilt Generator 2-batterikasser 2-50D Rebuilt Motorer 50D Wide Front Amp A Ramme 34rdquo Rear Felger 34rdquo Cast Iron Centre Ring John 419-631-2044 12616 TIL SALG: 1951 Cockshutt 40. Bored til 3 916 247, aluminiumstempler, NFE, 3 pt med gjenoppbygget original Cockshutt sylinder, utmerket tilstand, går bra, dekkene er gode. Ble malt i 96. Kontakt Gene 419-303-8682 111816 TIL SALG: Cockshutt 80 og 99 Både original og i god stand. 800,00 per stykk Kontakt: James (403)843-3096 103116 TIL SALG: 8203 1951 Cockshutt 40 - Fullt restaurert. Ny maling. Nye dekk. SN: 40 2613 PRIS: 4,500 eller beste tilbud 1956 Cockshutt 50-Deluxe - I god form. Gode ​​dekk. Kjører bra. SN: 50 20016 PRIS: 4.500 eller beste tilbud Kontaktinformasjon: Dave Hoffert E-post: djhoffertlive Ring eller tekst: 1-308-353-0120 101016 TIL SALG: Cockshutt 20, lavt serienummer, 124 motor, kjører bra, repainted, gode dekk w hjulvekter, 3 punkt og nytt batteri. 4000. 8203Kontakt: Jim Northrup 315 762 3752 eller jnorthrutwcny. rr 82016 TIL SALG: CoOp2 bred front perfekt prosjekt traktor-remskive - pto - all plate metall-ny starter - originale nav. ikke på traktor for tiden - har blitt konvertert - har blitt konvertert til 12v - Radiator har blitt refinished - gas tank har blitt rengjort og belagt - komfort med 2 Chrysler 6-sylinder flatheads, en i traktoren er nå ikke original og ikke helt ferdig blir tilkoblet, jeg har den opprinnelige motoren og itrsquos ikke fast, men kjører ikke for tiden, og mangler noen bolter på komponenter. - oversatte dekk på baksiden. - pris er omsettelig, villig til å hente for riktig pris - Kontakt Logan McDonald Akron, indiana ring eller tekst 2609010910 email: logancummins94yahoo82016 TIL SALG: 7416 TIL SALG: Beautiful Cockshutt 35, alle splitter nye dekk, alle felger sand blasted og malt, hode redone og motor rengjort og inspisert for slitasje. Har bilder av sylindere og stempler. Alt i god stand. nye plugger ledninger og karbitt sett installert. Ny dekal kit (McLure) inkludert samt manualer. Prissatt mindre enn det jeg har i det, men trenger å gå til et nytt hjem. Kom og kjør den bort. Ligger i Lloydminster Alberta. E-post for mer info olepetetelus 7116 TIL SALG: Cockshutt 350 firkantpresser, god original form, veldig sjelden interessant maskin, perfekt for en Cockshutt-samler, blitt lagret inne. Vi er i Øst-Ontario, Telefon 613-931-1263 4716 TIL SALG: 8203A-1 Tilstand, 1951 Cockshutt 40, 12 volt system, nytt batteri, ca. 50 timer siden motoroppbygging, nye bremsetetninger, nye frontdekk, veide bakdekk , bred frontend, 3-pt. Hardere å finne denne alderen i så god form. 6250.00 Ring for mer info: 715-977-0022 Don 31916 TIL SALG: Sammen med alle de andre Cockshutt - og COOP-delene jeg har, har jeg nå 2 Cockshutt 1250 gass traktorer for deler. Ring eller send e-post med deg. Irv Buttray 724-253-4285 snrdrillmsn Sandy Lake, PA. 3916 TIL SALG: 7600 I. H. Lastebil med 25 flatbed, 10 hastighet, c-10 kattmotor, trenger motor. 7500. Ring Bob på 517-278-5585, Coldwater, MI 22916 8203FOR SALG: Besluttet å tynne flokken, så jeg selger noen gamle traktorer som har sittet i stallet som samler støv. De fleste har ikke blitt startet i år, så det vil kreve frisk gass og et batteri, og hvem vet hva annet. De varierer i tilstand fra hage kunst til restaurert vis kvalitet. de er: 1952 Cockshutt 20, veldig fin original, smal front, 3-punkts, gode dekk, kjører bra, pic4 solgt 1947 Co-op E3, litt grovt, men motoren går over, går ikke i 20 år, solgt nytt på Battle Ground Dairymans Co-op til Bonanza Nursery, pic6 500 1947 Co-op E3, chassis-ingen motor eller hjul, har 8-trinns hi-lo trans, pic2 200. 1947 Co-op E3, kirsebær original, eksepsjonelt rett metallplate, men motor fast, pic5 600. 1948 Co-op E3, veldig grov men fullstendig, motor fastlåst sprukket, verftet kunst. pic3 250. 1949 Co-op E3, litt grov, motor fast, har sjelden 3-punkts, pic7 450. 1950 Cockshutt 40, vakker. eldre restaurering, kjører søt, sjeldent 3-punkt, pic1 4500. 1955 Cockshutt 50 Diesel Wheatland, god original, har sjeldne Star hjul og fabrikkstyring, kjører gode, gode dekk, pic9 3500. 1959 Cockshutt 570, Hot Rod Puller traktor, Hercules GO339 130 hk. motor, toppkledde dekk, wheelie barer, hydraulisk amp PTO blokk-off plater, veier 5300 lbs. OTPA 2014 King of the Hill, pic116000. 1961 Cockshutt 570 Super Wheatland, fin original, men motorsykkel, fine dekk, PS, pic8 2500 1962 Co-op CCIL 570 Super Wheatland, veldig fin original, utmerket metallplate og dekk, går bra, PS, pic10 5000. Motorer: Buda 6B273 , blokkblokk med 262 slagvogn og 6B230 kjernemotor for hode, panne, etc. 1000. (salg venter) Hercules D298 diesel, komplett og kjører bra ut av 59 570 1000. Hercules GO298 blokk, hode, kamera og annet. 200. 8203Kontakt: Tony Sha (360) 450-1482 eller e-post thecoopkidgmail 22816 8203FOR SALG: 1955 Cockshutt 50 D - wt. 18 hjul, servostyring sylinder - 18.4x34 stjernes hjul - deler eller hele. 273 Motor demontert. 1955 Cockshutt 50 Diesel hadde wf - 18 hjul wp5 cylinger 34 star hjul. Kontakt: Robert Patch på 517-278-5585 eller 8203Mcfarland01hotmail. TIL SALGS. Cockshutt redskaper - Cockshutt Hay balpress nr 375 rundt 1940-50 laget av Riviere Casalis for Cockshutt (veldig spesiell gjenstand) - nei 325 uml 1951 med en Wisconsin-motor (4-sylind modell VF4). veldig rent enhet. - Hele aggregatet (hestestasjon) - uml uml uml nr 315. trukket type for taktor (en annen for deler) - uml uml kombinerer ingen SP-428 ikke kjører - uml uml uml no PT-422. veldig rent enhet. - uml høi rake nr 311 - uml uml hay loader (2) nr 3 og nr 3A - uml seeder no 110. veldig rent enhet. - Frostforsterker Hesteklipper rundt 1930 Du kan se bildet av samlingen min på nettsiden. lespac reklame nr 33090388 og 33104551. NB Jeg snakker FRANSK, men jeg prøver å gjøre det beste jeg kan på ditt språk. Jeg vil sette pris på å motta en e-post først og senere vil jeg se om jeg må ringe deg. Jeg er lokalisert på 163 DUBE, Laurierville, P. Quebec Canada G0S 1P0 E-post. puccharest2014hotmail Telefon. 1-819-365-1079 (telefonsvarer) TIL SALG: Fullført restaurert Cockshutt 30. Mange mange nye deler. Sandblasted, primed og malt. Merk: malt til en 35 skjema, gul og rød, nye dekaler 4300 OBO John Williamson på telefon 219 808 7546 eller på John. Williamsonhbaptist Ligger i Schererville, In. TIL SALG: 1960 Cockshutt 550. Hercules 4cyl. gass, 3pt hitch, ekstern syl. LPTO, remskive, ingen bukser, gode dekk, ikke lastet, bakhjul whts, originalregning, eier og deler manualer. 4.000.00 eller beste tilbudet. E-post: mlowery90gmail Ligger i Clarington Ontario FOR SALG: Redusere samlingen. Cockshutt 30, 1948 SN 14912 komplett og vis romtilstand Cockshutt 40, 1951 SN 6014 eller 8014, PTO, remskive amp-trekkstang Cockshutt 70, 1947 SN 313798. PTO-forsterkningsbøyle. ingen bakhjulsdekk forsterker ingen bakre fender Cockshutt 70, HART PARR 1938 SN 302787. PTO forsterker. bakhjulstamper foran forhjulsdekk Cockshutt 411R 1958. PTO, HYD amp-trekkstang. 2 motorer amp radiatorer ligger i Laurierville, P. Quebec Canada G0S 1P0 Snakker fransk, men gjør det bra med engelsk - foretrekker e-post puccharest2014hotmail eller hone 1-819-365-1079 (telefonsvarer) Ønsket: Vi er på jakt etter en govenor for en 1956 -58 Blackhawk 35 med en 4-sylindret gassmotor. Du kan kontakte Mike Paulson på 701-438-2695. TIL SALG: 1967 Cockshutt 1550 55 HP Gasslaster traktor med original Cockshutt Loader. Har 4130 opprinnelige timer. Kjører og kjører bra. Har en 6 fot bøtte med en sterk laster. Alltid lagret inne. Ser ut som new.6,500 US. Bare selger fordi jeg ikke bruker det mye og trenger rommet. Ligger i Oil City Ontario Canada N0N 1N0. Kontakt: 519-882-0188 TIL SALG: 1947 Cockshutt 60 Gjenopprettet. Jeg kan levere til National Show som er på Fulton County Fair neste år. 5500. E-post for bilder og detaljer. Kontakt: Kevin Aeschliman på telefon på 419-822-1998 eller e-post kaeschlimanembarqmail WANTED: Leter du etter aksjer, moldboards og jordskred for en Cockshutt 2 furrowplow. Jeg vet ikke hvilken modell det er, og hvis det hjelper, kan jeg sende bilder. Paul Brownell, 905-925-6633 eller paul. b.brownellgmail. TIL SALG: Jeg har til salgs en CO-OP-syklastklipper modell E15B. 9ft. holdt inne, har fortsatt CO-OP-logo på trevakt. Inkluderer original brukerhåndbok. Kjører jevnt. Gjort i Canada av kurs 450. Vennligst ikke ring etter 7 pmhellip1-989-634-9794hellipLocated i Byron, Michigan. Ønsket: Deler til MC-3 kultivator eller 1515A15B15A sikkelslåmaskiner. Kontakt: Jack C. Anderson, 2010 T Avenue, Madrid, IA 50156, telefon 515-795-4099 eller e-post jcanderswindstream TIL SALG: 4 rad montert Cockshutt kultivator. Kom av en Cockshutt 50. Ingen bakre feier. Ser komplett ut. Lagret utenfor. 500. Beliggende på Beatrice, Nebraska. Ring 402 230-0177 11415 8203 Ønsket: Remskive for Cockshutt 50, 40 eller 35 murpheidnet. org WANTED: En sigarettenner med Cockshutt-insigniene på den. Min far var en sveiser i løpet av WWII på fabrikken i Brantford, og senere ble han tidsbehandler i løpet av slutten av 40-tallet og tidlig på 50-tallet, og deretter pensjonert etter 35 år etter å ha overlevd den hvite motoren og Miniappolis Moline overtok. Så jeg har mange Cockshutt memoribilia inkludert en Lufkin Tape Measure med Cockshutt symbolet, fortsatt i den originale blå boksen det kom inn. Det eneste jeg mangler er en sigarettenner som han brukte (han er en ivrig røyker i disse dager) . Jeg husker hvor slitt det var, så jeg håper det er noen fremdeles rundt, og det er det eneste som har gått glipp av hans sak av Cockshutt-ting. Hvis du vet hvor en er og til salgs, er jeg veldig interessert i å kjøpe den. Du kan kontakte meg på denne e-post tspaulrogers eller på telefon 519-304-2759 (et Brantford nummer) Takk for din hjelp med å finne en av tennene. Med vennlig hilsen Terry Paul (sønn av Dez Paul, veldertimekeeper) TIL SALG: Jeg selger av mitt utvalg av Cockshutt traktorer og deler: Komplett enheter: New Style Cockshutt 1950 med GMC diesel 1850 med 354 Perkins diesel 570 diesel wheatland PD40 med Suncast hjulvekter og beltehjul Deler: Flere 560s ufullstendige (1) 570 Super ødelagt blokk Massevis av deler, for mange til å liste, inkludert flere 40 dieselmotorer både tidlig og sent. De komplette enhetene har kjørt i løpet av de siste 4 årene, 1950en gjorde høy til i fjor. Vær rimelig og hjelpe deg med enhetene eller delene. Jeg har ikke nok tid til riktig gjenoppretting av disse enhetene, og jeg vil ikke ha dem sløse bort. Mine amerikanske venner Jeg har ingen problemer med å hjelpe deg hvis du er interessert i deler eller enheter. Levering på enhetene i Canada er mulig så langt som Ontario, kan være i stand til å gjøre nordlige stater. (Jeg har min egen motorvei traktor og utstyrsvogn) Kevin Johnston REDCO Process amp Production Services Ltd Feirer 36 års dedikert kvalitetsservice (780)991-1213 REDCOSERVICES. CA TIL SALG: 1948 Cockshutt 40 Buda Diesel, ombygd i 1967 av PAL Motorer ut av Orillia Ontario, Tractor har alltid vært drivstopp holdt, dekkene er gode, går bra, skifter godt, koblingen fungerer bra, det gjør ikke røyk når det går, starter helt opp. Ligger i Midland Ontario, har siste videoer av traktor kjøring og kjøring. Be om 4500 O. B.O Kontakt Nathan på infotreemover. ca 65279 TIL SALG: Kontakt: Tom Mazzeo på tmazzeonc. rr. Buda 4-cyl motor deler til cockshutt 30. midterste stangarm montering midje Ventildeksel midje Olje pan midje Timing redskap midje Svinghjul midje Timing girdeksel og base plate middot Oljepumpe midje Radiator Fan Blade middot Generator middot Starter middot Clutch samling med LPTO Spider midterste kamaksel midje Frontmonteringskonsoll midje Dipstick middot Forgasser middot Gullmonteringsmøtrik Diverse rør for luftinntak og avkjøling Cockshutt Modell 30 deler: middot Gasstankmåte Hele LPTO bakaggregat med inngangsaksel middot Transmisjonsklippermontering middot Verktøykasse TIL SALG: I ha en 1973 White 107 Lawn Tractor til salgs. Det har vært i familien siden 1973. Faren min jobbet ut av Brantford som Service Representant for White Farm Equipment i Sør-Ontario. Jeg husker da han brakte hjemmet fremdeles i kassen. Den har alltid hatt et lyseblå klippeaggregat. Jeg kontakter din organisasjon fordi det kan være noen som setter pris på det, i stedet for å være en 42 år gammel gress traktor. Jeg vet ikke hva det er verdt, men jeg tror 550.00 er rimelig. Det går veldig bra, bare installert et nytt batteri. Motoren er den opprinnelige 7,5 HP Briggs og Stratton. Den har kuttet gress. Selv om år siden ville bestefaren bruke den til å pløye oppkjørselen sin. Bladet vedlegget var for 12 HP-modellen, så det var litt for tungt. Bladet er langt borte da faren min var nede på størrelse tilbake på begynnelsen av nittitallet. Kontakt: Larry Beams, 519-669-3155 eller email albeamsrogers TIL SALG: Selge en E-3 traktor med bred front og levende hydraulikk. Motoren er fast, vil trenge dekk, godt restaureringsprosjekt. ligger i sentrale Mn. nær Little Falls. 950,00. 320-732-2272 ØNSKET: Jeg trenger et guvernøroverhalingskit eller en komplett montering for en E4. Det røkt seg selv og jeg vet ikke hvorfor. Jeg setter pris på all mulig hjelp. Takk, Lane Ironfarmcomcast 574-340-5567 WANTED: For tiden søker en operativ eller gjenopprettelig SP 112 Cockshutt kombinere. Svar kan sendes via e-post til bigdaddybehlyahoo eller telefon 1-763-688-3448 WANTED: Jeg leter etter en liten Cockshutt-plov av noe slag (hest tegnet) for å vise foran vår gamle butikkfront. Denne gamle låvebutikken er en av Cockshutt-forhandlerne lenge plassert i Finch Ontario. Vi vil sette den gamle Cockshutt-logoen på vinduene og gi den utseendet til det gamle forhandleren. Så å ha et element å vise ut foran ville være flott. Finch er også vert for IPM i år. Vi skal forlate dekaler i vinduene fra nå av. Sean Mullin 613-984-2221 Finch Ontario ØNSKET Jeg leter etter 40 Deluxe traktor. Vennligst send e-post til dabelnnvc eller ring 605-397-8114 FOR SALG: Jeg har en 1950 Cockshutt 30 Traktor til salgs, (gass). Synes synd å sende til skrapgård hvis noen kunne gjenopprette til sin originale herlighet. Ikke sikker på om det fortsatt kjører, ble brukt på vårt treparti av sen mann frem til flere år siden. Asking 1000. obo, Seriøse henvendelser bare vær så snill. sparemeaminyahoo. ca (613)210-0819 TIL SALG: Cockshutt 30 NFE, Front Hydraulics. 40 1950, SWFE, Gass, Eldre Re-Paint. 50 1956, SWFE, Gass, støtfronter, Star Rears, Remskive, Re-Paint. 60 Standard 1947, Gjenopprettet, God Gummi. 550 1960 Gass, SWFE, Original, Nice. E4 1956 DSL, SWFE, original, 99 perfekt. For godt å gjenopprette. Golden Arrow 13, SWFE, Gjenopprettet, Perfekt. E4 og Golden Arrow må sees å sette pris på. Kontakt Dan: Når som helst før 9:00 616-438-8657 eller 7-9PM 616-887-7462. Michigan. 293 Enhver som kan være interessert i å kjøpe mønstre og mugg for Cockshutt trepunktshitch og alle ferdige deler på hånden, kan ta kontakt med Chuck Phillips, 814-425-3239 eller e-mail usmcretzoominternet FOR SALG: Restored Cockshutt 40, standard bred front. 4.000.00 Kontakt Chuck Phillips på 814-282-0208 eller send oss ​​en e-post til usmcretzoominternet FOR SALG: Restaurert Cockshutt 35 Deluxe, justerbar bred front med 3-punkts hitch. 4,800.00. Kontakt Chuck Phillips på 814-282-0208 eller e-mail usmcretzoominternet TIL SALG: 70 Oliver NFE chassis uten hjul. Inkluderer overføring og bakre ende. Spør 300.00 Kontakt: Jean-Guy Bonin på 705-983-2156 eller e-post Boninjacques01gmail Ønsket: Jeg leter etter 14 Cockshutt-fartpløyepunkter. Disse har en enkelt bolt på ansiktet og to på skinnsiden av punktet. Plogen er en tobunns trailer type. Hvis noen har poeng eller vet hvor jeg skal finne noen, vil jeg være takknemlig. Kontakt Daryl Hengesbach hos boonedarryahoo TIL SALG: Jeg har en Co-op E3 ​​traktor som har en smal forkant, HiLow girkasse, PTO, og en hydraulisk heis. Traktoren har nyere bakdekk. Den har god platetall eldre restaurering. Ligger i New Bremen, OH. Be om 3.000. Ring 419-733-8815. Be om Brian. TIL SALGS: Co-op E112B hurtigplog 2x12 trekkplog. Rope trip plough fair dekk ploger bra. Be om 300.00 ligger i New Bremen Ohio. Be om Brian WANTED: Leter du etter en Cockshutt 1850 seriell plate i god stand. Kontakt: Bill, Australia. E-post - homeleigh1hotmail. Ønsket: Jeg trenger en støvdeksel på forsiden. T 8831 er det originale delenummeret for en 1948 E3 Co op (tricycle front). Kontakt: David Dolvin i Upper Marlboro, MD på david. dolvingmail WANTED: 2-14rdquo eller 2-16rdquo Cockshutt tilhengerplog, repetur, på gummi. Hvis i Ontario, jo nærmere Port HuronSarnia området jo bedre. Jeg er bare interessert i en veldig god en. Jeg vil være i Michigan våren for å hente en 30. AndreeMerr FOR SALG: Cockshutt 40 deluxe, kjører bra, god maling og dekk, har lavere bergaksel og beltehjulsdrev. 5500 740-607-1074 ØNSKET: Jeg har behov for en drivstoffpumpe for en 1951 Cockshutt 40D med Perkins 269-motoren. Noen der ute som har en tilgjengelig degoaliehotmail WANTED: Jeg har en enkelt cast 38 hjul senter. Ligger i Wisconsin. Vil gjerne få en annen. Kommer på en e4 for å trekke i 5500 og 6000 pund klasser. Kast inn det er T16599x. Kontakt Bob Fields på bdfieldsyahoo TIL SALG: 1550 cockshutt serienummer 208919-504, Gassmotor, Hydrapowerdrive, 18.4x30 rears, Rett metall, god løper, gode dekk 4,200.00 Ottawa Ontario 613-838-5777 TIL SALG: 1958 Cockshutt 570. I løpende tilstand . Hercules diesel, bred front, hvite landskjærer. 2000 Kontakt Tony 218-465-4353 eller e-post på tgerardygvtel Plummer, MN. TIL SALG: Jeg har en ratt som jeg kjøpte for 1855 og aldri brukt. Jeg forstår at den også passer til en hvit 2-160. Spør 150. Ring Dave på 403-935-4906 eller email på whitfieldfarmsgmail. Ønsket: Jeg har en 1958 Cockshutt 550 Jeg er lokalisert i Brantford Ontario Canada Jeg er på utkikk etter en trepunktshitch satt opp hvis noen kan hjelpe det som ville vært bra. E-post Adam på glenmorrishick hotmail TIL SALG: Cockshutt 50 SWFE Komplett rammeoppbygging inkluderer total gjenoppbygging på motor, profesjonelt malt, nye dekk, parader og aldri brukt til å trekke. Pris 10.500,00. Kontakt 250 545 2373 og la meldingen gå. Ligger i Vernon, BC ønsket: Jeg leter etter en vannpumpe for en Cockshutt 35 deluxe med en Hercules-motor. Jeg sendte min ut i posten for å bli gjenoppbygget og det går tapt i posten et sted. Jeg prøver bare noe på dette tidspunktet for å finne en. Kontakt: John at johne623yahoo WANTED: Prøver å gjenopprette en Cockshutt 3 bunn, 16inch plog. Kun info Jeg har på plogen er to stemplede merker opp på bøylene hvor topplenken festes og stampingene er: P-11159 og P11058. Jeg vil gjerne ha informasjon om plovmodellen, og hvis det var noen dekaler på plogen, og hvor de var plassert. Ønsker du å kjøpe: 3 plog aksjer 3 coulterlejer eller komplette coulters i god del 1 svinghjulslag Kontakt: Keith Riley på krileyelanco eller 402-563-4819 TIL SALG: Cockshutt modell 15AS slåmaskin trenger et nytt hjem. Har blitt restaurert, brukes til å klippe høy og lagres i låve. Kontakt Bob Dutton på 614-938-2182. Ønsket: Jeg leter etter en Cockshutt 50 .040 overdimensjonert stempel. Ringkode på 403-594-0990 TIL SALG: 1956 Cockshutt Golden Arrow Serienummer 16014 utmerket metallplater Nytt gummi og rør, Hercules 4-cyl bensinmotor gjenoppbygget ikke mer enn 200 timer på motor, ny rad, 3pt hitch med hydraulikk, justerbar front slutten, i familien i 20 pluss år har også et sett med nye vinyldekaler for det. Bare alvorlige henvendelser. Kontakt. 519-446-2518 eller email brenda. louchhotmail. ca ØNSKET: Gjenopprettet Super 570 Cockshutt, Trenger å være en Rowcrop og har 3pt. Ring Gary på 402-659-4932 eller email juranekcox WANTED: Cockshutt 20, en del for å holde bakhjulsvekten på 28 bakhjul, del T-18000.Jeg trenger to, men vil også være interessert i fire og et sett med bakhjulsvekter . Jeg vil være på våren møtes så kunne henting da. Lonnie 819-458-2142 ØNSKET: 1 Co på traktor. Alle forhold vurderes. Jason 605 470 0489 10282013 WANTED: Jeg trenger 16 i moldboards for en Cockshutt 280 3 bunnplog. Hvis ikke Cockshutt, noe mer vanlig som vil skru opp. Hvis du vet om noe, vennligst send en e-post til kevin. j.duvallgmail 10222013 TIL SALG: Seks (6) Cockshutt hjulvekter. Cockshutt del TO-13991. Passer 40rsquos etter seriell 25000 amp 50rsquos etter serie 15000. Utmerket tilstand. gderringerembarqmail Kontakt Gene Derringer, Harrod, Ohio. 419-303-8682 10192013 ØNSKET: Bakkanten til en Cockshutt 570 radavlinger 34 av 15 jeg tror er hva den er. Jeg leter også etter en bakre kant for en E4 med rektangulærene. Larry Palmer, Albion, IN 260-636-2605 10152013 TIL SALG: 1961 Cockshutt 570 super med splitter ny 3400 Hercules turbo dieselmotor, ny clutch, gode dekk, har 3 punkts hitch, dette er en fin traktor. 8500 TIL SALG: Cockshutt 40 buda diesel, jeg har 2 komplette motorer med busted blokker, jeg har en god reservedel blokk, bør være nok deler til 1 komplett motor. Sheetmetal og fender er utmerket, vil trenge dekk. 1750 TIL SALG: C omplete 3-punkts hitch for Cockshutt 30, inkluderer rockshaft og pumpe som går under setet, og ekstra pto. 500 obo 740-607-1074 forlate meldingen TIL SALG: 1953 Cockshutt 40 bred front til salgs i upstate NY. Motoren har ca 60 timer på en gjenoppbygging, men traktoren har satt seg ganske lang tid. Jeg har alt tinnet som er ganske god form, inkludert batteriboks. Jeg liker å få 1800 for det. Jeg har også et sett med hjulvekter som kan fås til en pris. Ring Jim (607) 532-4039 TIL SALG: Serienr. 50 101. Erstatt vev, ermestet på standard, hovedjobb. Ny maling, nye dekk. Første klasse restaurering. Fra restaureringsbutikk rett til min kalkulerte kjeller. Aldri blitt vist. Aldri vært i sollyset bortsett fra under levering. Ble dekket i ark amp tepper. 25.000,00 Marvin Rose 931-738-3035. Ønsket: Leter du etter en Cockshutt 30 foretrekker smal front, eller muligens en Cockshutt 20 med det meste av arbeidet som er gjort. Contact me at: iboersensbcglobal . Irv Boersen FOR SALE: Cockshutt Deluxe 40 Diesel PD, very straight, runs good 4,000 OBO needs paint. Cockshutt 20 Deluxe, runs excellent repainted 7,500 608-445-7361 or 608-437-5061 Tom Magnuson Mt Horeb WI FOR SALE: Restored 1230 rear mounted Cockshutt plow. 380 Phone: 419-422-9685 FOR SALE: I have a 1952 cockshutt 40 for sale. The tractor runs very good and doesnt leak even 1 drop. The tractor was also signed by a playboy playmate so its rare for sure as this is the only one I am looking for 6500. It also comes with tire chains and 6 foot blade in very good shape. Will also be willing to take trade and cash as well. Contact miketremblay1hotmail for more info. Smooth Rock Falls, Ontario Cockshutt 263 disc. 650.00 (1701)-270-0290. NICE Steven Smaaladen at steven. smaaladenicloud 1949, Cockshutt 30, restored and painted. Asking 3000.00 or best offer. Contact: Cameron Hart at 306-729-4913 or by email at cameron1937hotmail . 1950 Cockshutt 40 Deluxe, Gas, all restored and in good condition. Original paint color and decals. Asking 6500 but will take offers. Contact: Cameron Hart at 306-729-4913 or by email at cameron1937hotmail . 1956 Cockshutt 40 Deluxe Diesel. Also in good shape asking 5,500.00 or best offer. Contact: Cameron Hart at 306-729-4913 or by email at cameron1937hotmail . Set of rear wheel weights for Cockshutt 60 or Oliver 60. Part J 1235 Can bring to Athens tractor show.175 Cockshutt 11 Seeder for sale with original tires needing tubes. Collector reducing the collection. In quite good shape, always stored inside until I lost storage for it recently. 300.00 or best offer. Only 45 minutes to the Cockshutt show in Athens Ontario. Call 613-987-9967 or bngrantsympatico. ca Cockshutt 540 35 hp tractor with 3 ph and live power take off. Runs excellent and is over all in good shape with new tires all around. Asking 2700 or best offer. Can deliver to the Cockshutt show in Athens, Ontario. Call 613-987-9967 or bngrantsympatico. ca 1962 Cockshutt 550 Wheatland, gas. Tractor is in original condition with rebuilt starter, generator, carb, new brakes. Has remote hydraulics no three point. Runs good. 1942 Cockshutt 80 standard. older restoration, runs good crank start. Im asking 3,700 each. Photos available - Douglas Tilton - 908 618 2415 in Marlboro, NJ Ready for Restoration. Two Cockshutt E112B plows, 2 bottom 14 speed plows. One complete, one some parts missing. 500.00 OBO. C. W. Thompson, PH: 715 467 2737. All notices must include an E-mail Address Postal Address Telephone Number for contacting purposes. Notices are removed after a 3 month period but may be resubmitted if still current. Sales or contacts will be made directly between individuals and not through this web site or through the ICCI. Neither ICCI nor any of its members will be held responsible in any way for dealings carried out as a result of the notices posted here. Any notice considered unsuitable for posting on this page may be refused. Closed Brexit live: David Cameron resigns as UK votes out The UK has voted to leave the EU after a bitter and divisive campaign. Prime Minister David Cameron has said he will resign by the time of the Conservative party conference in October. Boris Johnson has said that the British people 8220have spoken up for democracy8221. The EU was 8220a noble idea for its time,8221 he said. 8220It is no longer right for this country.8221. Financial markets across the world are down sharply. Sterling has plummeted and banking stocks are taking a heavy beating in early trading. Bank of England govenor Mark Carney has said they 8220will not hesitate to take any additional measures8221 to ensure monetary and financial stability. First Minister of Scotland Nicola Sturgeon has she will begin to prepare the legislation for a new vote on Scottish independence It is a Leave victory 8211 see our interactive results page Most of the country has turned against the EU with only London, Scotland and Northern Ireland delivering big wins for Remain. Turnout was 72., with 16,141,241 cast in favour of Remain and 17,410,742 in favour of Leave Prime Minister David Cameron has said he will resign and that the new PM should be the one to decide when to trigger Article 50. The financial markets are in turmoil, sterling has fallen dramatically and volatility is hitting other major currencies. The Euro is suffering its worst day ever against the dollar. Banking stocks are particularly hard hit. The Bank of England has said it will 8220take all necessary steps to meet its responsibilities for monetary and financial stability.8221 Both the BoE and the ECB has said it is ready to provide additional liquidity if needed Leave campaigners Boris Johnson and Michael Gove have said informal negotiations will now start on the exit. Nicola Sturgeon confirms preparations for a new Scottish independence referendum Welcome back, for those that missed all our coverage earlier in the day here8217s a link to that earlier blog. Just a reminder that there are no exit polls tonight. The FT8217s Kiran Stacey, a former political correspondent now covering energy, is back moonlighting tonight and has this just filed us this explainer about the one survey that will come out just after the polls close at 10pm: At 10pm, YouGov will put out the final poll of the campaign. This is not an exit poll, which contacts a huge number of people as they leave the ballot box, and has in general elections usually proved more accurate than any other kind of survey. Instead, YouGov has re-contacted around 4,000 people to whom it previously spoke for a Sunday Times poll. In 2014 at the Scottish referendum, YouGov8217s on-the-day poll proved very successful, getting within one percentage poll of the final result. But at last year8217s general election, the company8217s on-the-day poll predicted a hung parliament, with the parties tied at 34 per cent each 8211 very different from the Conservative majority we ended up seeing. And if that8217s not enough for you, here is a link to Prof John Curtice, one of the country8217s top psephologists (if you Google the terms Prof Curtice8217s name pops up second in suggested searches 8211 at least on my browser), explaining to the BBC. The FT8217s commodities correspondent, Henry Sanderson . reports that the gold market is eerily calm as traders wait for results of the referendum. Gold is holding just below 1,260 a troy ounce, as traders prepare for a surge in price if the UK decides to leave, or a possible drop as positions are unwound in the case of a vote to remain. Gold is often seen as a safe haven asset during times of financial market turmoil. David Govett, head of precious metals at London broker Marex Spectron, says he plans to be in the office all night as results come in. Traders in China, the world8217s largest gold consumer, have also been quiet, with the night-trading session in on the Shanghai Futures Exchange, which ends at 7:30 pm UK time, barely moving the price. A vote to leave could bring a number of favourable factors to gold including a stronger dollar (the metal is priced in dollars,) a lower chance that the Fed will raise rates (which is bad for gold as it provides no interest,) as well as political uncertainty over the fate of the EU. 8220A majority vote to exit the European Union would likely create years of uncertainly over the terms of the prospective divorce agreement and uncertainty of this sort is always good for gold,8221 said Jeff Nichols, managing director of American Precious Metals Advisors. Some analysts say a vote to remain has already been priced into the gold market, meaning the price of the metal is unlikely to fall too precipitously. The one question that you probably want answered is when the final result will come. Alas we don8217t precisely know at this point. But: what we do have is a useful guide to the places which should point to the wider success of In and Out. This isn8217t a foolproof exercise as it is based on polling data from some time ago, but keep a close eye on the following 10 places. Mole Valley. High Peak. North Hertfordshire. Knowsley. Anglesey (pictured). Slough. South Oxfordshire. Worcester. Rhondda. Portsmouth. Here is a broader explainer from elections guru John Curtice. Here are the latest betting odds from Ladbrokes: Leave now apparently has only a 14 per cent chance of victory. Bear in mind though that on the eve of last year8217s general election the odds of a majority government looked similarly slim. Over on FastFT, we report that the SampP 500 jumped more than 1 per cent on Thursday in the broad market barometers best day in a month, as investors cheered polls that hinted at a victory for remain in todays EU referendum. The gains on the day, which brought the SampP 500 within less than 1 per cent of its all-time closing high notched last May, were led by economically-sensitive sectors. Financials performed best, followed by materials, energy and technology. Meanwhile, defensives that are favoured for their dividends and tend to perform well in times of uncertainty, fared worst, with utilities and consumer staples lagging behind. Henry Mance, the FT8217s political correspondent is at the Leave. EU party at London8217s Millbank Tower. Leave. EU is the campaign group supported by Ukip leader Nigel Farage. This is his first report: 8220Win or lose the EU will never be the same again,8221 said the invite. Leave. EU had to cancel a Brexit pop concert during the campaign some of the (not very famous) acts are due to perform tonight. The sparkling wine is already flowing Mr Farage is due to show up at about 11pm. Here are some insights from John Authers, senior investment commentator: All major markets are now closed around the world, for a brief window before the polls close in the UK. What is priced in Probably, it is fair to say, somewhere upwards of a 90 per cent chance that Remain wins. Sterling, the most obviously affected assets, has pegged back only slightly from its high from the day, at which it had rallied by 6.67 per cent against the dollar in only a week 8211 a remarkable rally. At just below 1.50, it is very close to estimates to purchasing power parity (as close as the foreign exchange market gets to a 8220fair value8221). As it is a popular call among FX analysts that a Leave vote would bring sterling down at least as far as 1.20 in short order (which would be a 31-year low), this bespeaks intense confidence in a Remain victory. As for stocks, the FTSE-Eurofirst 300 index closed the day at its highest priceearnings ratio since the crisis, at roughly 28. This is partly because the latest earnings data was particularly bad, but still such a valuation would not be possible if traders wanted to price in a significant risk of an imminent British exit from the EU. As for the US, where the referendum is also dominating conversation, the SampP 500 had a strong day to close needing to rally only by another 0.8 per cent to top the all-time high it set in May last year. The degree of confidence in markets can be overstated. Bank stocks, which stand to be most affected by the referendum result, remain depressed, even if eurozone bank shares have gained 17 per cent in the last week. And bond yields remain historically low, even if the sharp rise in yields over the last week shows returning confidence. German 10-year bunds now yield 0.093 per cent, which is startlingly low, but still shows a sharp rebound in confidence after last week8217s historic negative yields. The market positioning is clear, and at this point a Leave vote could trigger a remarkable day of trading on Friday. If that were to happen, the embarrassment for bookies (putting the odds on a Remain at 81 on) and prediction markets would approach the humiliation suffered by pollsters at last year8217s UK general election. Here8217s a good way to spend two minutes if you8217re waiting for 10pm and the outcome of YouGov8217s final poll. The FT8217s potted history of the EU: Here8217s the latest from Roger Blitz . our currencies correspondent: Dominic Bunning, at HSBC, said sterling should remained supported at around 1.50 if the latest opinion polls were firmed up as the night went on. But Adam Cole at RBC Capital Markets, is treating the market8217s confidence with caution. 8220It looks like the market is close to 90 per cent priced for a Remain vote, with the last lurch up being on the YouGov poll as the polls closed,8221 he sad. 8220I would not put that much weight on that poll the sample is only 5,000 and the margin of 4 percentage points is not large enough to have any confidence. I think we still have to wait for a meaningful number of declarations and things could still be very volatile as they start coming in.8221 Daniel Been at ANZ said Friday8217s Asian session had so far seen liquidity conditions 8220broadly as expected8221 and helped by the polls pointing to Remain 8211 8220a position that the market had already been gravitating to over the past few trading sessions8221. Liquidity, he said 8220remains OK in pockets, but overall it is thinner than yesterday and markets remain very vulnerable to any surprises8221. Nigel Farage has spoken at the Leave. EU party. 8220It8217s been a long campaign. In my case 25 years,8221 he jokes, report Henry Mance and Kiran Stacey . He doesn8217t concede the referendum 8211 but says that the 48 hour extension in voter registration may have tipped the balance. However, he adds that even if Remain has won this battle, the Leavers are winning the war. 8220The eurosceptic genie is out of the bottle, and it will now not be put back.8221 More from Farage: 8220Whatever happens tonight, whoever wins this battle, one thing I am completely certain of is we are winning the war. 8220Tonight, maybe just under half, maybe just over half of the country is going to vote for us to leave the European Union. 8220The eurosceptic genie is out of the bottle, and it will now not be put back. I hope and pray that my sense of this tonight is wrong. My sense of this 8211 and this is not a concession 8211 is that the government8217s registration scheme8230. maybe has tipped the balance. I hope I8217m wrong, I hope I8217m made a fool of. 8220The landscape of British politics of the course of the last few weeks has changed and it has changed forever. 8220We will get our country back, we will get our independence back and we will get our borders back.8221 Here8217s the video: A poll from research company Opinium has the Leave side ahead by one percentage point with nine per cent of the population not yet decided. There is some confusion over when the survey was carried out. UPDATE: Opinium have told the FT the poll was carried out between 20 and 22 June. Newcastle result is coming in Remain 8211 65,504 Leave 8211 63,598 We8217re just checking the maths on the 8220expected8221 results as predicted by some pollster but it was meant to be higher for Remain The potential relevance of Newcastle upon Tyne is that we had expected a decent lead 8211 perhaps 12 points 8211 for the In camp. Instead it was very close at 49.3 per cent to 50.7 per cent. It would be an error to read too much into a single result, but there will be jitters on the Remain side right now. Our colleagues on fastFT note that sterling has given up most of its earlier gains against the dollar following reports that the Newcastle upon Tyne result would be close. From the FT8217s Charlie Bibby . an image of Nigel Farage speaking a little earlier: From our colleague Chris Tighe in Sunderland, whose pro-Leave result has just shocked currency markets: In Sunderland, 61.3 per cent of voters have voted to leave the EU despite their citys heavy dependence on inward investors, most notably carmaker Nissan, for employment. In a 64.9 per cent turnout, 82,394 people voted to leave the EU and 51,930 to remain. Sunderland has rebuilt its manufacturing base since the 1970s largely on inward investment the Nissan plant is the UKs largest car producer. Nissan exports 55 per cent of its Sunderland output to EU countries around 250,000 Sunderland-made cars in 2015. The city is home to more than 80 overseas-owned companies employing 25,600 people. In voting to leave by such a resounding margin, Sunderlands voters have dismissed warnings by politicians and business leaders that a Brexit could put jobs at risk. Nissan itself voiced a preference for the UK to stay in Europe. It makes most sense for jobs, trade and cost, Nissan chairman and chief executive Carlos Ghosn said earlier this year. The reasons for Sunderlands Leave vote include protests against austerity and cuts, and a suspicion that a political and business elite have been scaremongering as well as unease at how the UK is changing. The Leave momentum is not all about older people. Katy Brook, a 20-year-old Sunderland university student, who is from the city, said she, and her family had voted Leave. Europe needs us more than we need them, she said. And this is the chart of the Sunderland result: More from our colleague Chris Tighe in Sunderland, whose pro-Leave result has just shocked currency markets: In Sunderland, 61.3 per cent of voters have voted to leave the EU despite their citys heavy dependence on inward investors, most notably carmaker Nissan, for employment. In a 64.9 per cent turnout, 82,394 people voted to leave the EU and 51,930 to remain. Sunderland has rebuilt its manufacturing base since the 1970s largely on inward investment the Nissan plant is the UKs largest car producer, employing 6,700 people. Nissan exports 55 per cent of its Sunderland output to EU countries around 250,000 Sunderland-made cars in 2015. The city is home to more than 80 overseas-owned companies employing 25,600 people. In voting to leave by such a resounding margin, Sunderlands voters dismissed warnings by politicians and business leaders that a Brexit could put jobs at risk. Nissan itself voiced a preference for the UK to stay in Europe. The reasons for Sunderlands Leave vote include protests against austerity and cuts and a suspicion that a political and business elite have been scaremongering, as well as unease at how the UK is changing, including immigration. The Leave momentum is not all about older people. Katy Brook, a 20-year-old Sunderland university student, who is from the city, said she, and her family had voted Leave. Europe needs us more than we need them, she said. A Labour source says they think that with turnout high, the divergence between Leave and Remain areas is higher than expected, reports Kiran Stacey . Those expected to go Leave have done so in greater numbers, but the same is also true of predicted Remain areas, the person says. The results so far have been surprisingly strong for Leave, but it8217s worth waiting to see the result from some of the most marginal places. As Kiran said earlier, the rumour is that both In and Out areas have polarised to a greater degree than expected. Key 8220marginals8221 are likely to include8230 North Hertfordshire at 1.30am High Peak at 2.30am Portsmouth at 3.30am Mole Valley at 4am South Oxfordshire at 4.30am A reader, Friendly Yank, asks: Are the mail in votes counted with today8217s voters or separately tabulated Our reporter Kiran Stacey says: Postal votes are included in the final counts that are being announced. Vote Leave supporters in London celebrate the Sunderland result, from Charlie Bibby : Here8217s a chart of the position nationally as it stands after just 5 out of 382 result so far: Whatever the result, this feels like the defining moment in a major cultural split in the UK. It looks like voting in London could be stronger for In than previously expected. Lisa Nandy, Labour MP for Wigan East and a Remainer, says she cannot predict the result, reports the FT8217s Andrew Bounds : At the national count in Manchester, she warns that the country has been deeply divided. Families and neighbours have been divided by this debate. Whatever the result there is a big job to do to heal the rift. She said many traditional Labour voters felt left behind by globalisation, which had eroded their standard of living. They had also suffered austerity and many had ignored Labour pleas to vote remain. If David Cameron wins this referendum it will be because people like that have come out and voted to remain. He owes it to them to help them, to stop the cuts. Here is Jeremy Corbyn8217s brother saying he hopes that the Labour leader will lead post-Brexit negotiations. The FTs Tokyo correspondent, Leo Lewis . was on the phone to the head of one of Tokyos largest FX trading desks when the Sunderland result came in. Something very bad has happened, he said, before immediately hanging up. More from our Asian team: The word from the Tokyo trading floors on that massive spike against the dollar, euro and sterling all of which took place over the space of a few seconds 8211 is that 8220a sense of chill has just replaced a sense of confidence that we had 30 mins ago8221. Although there are no reports of liquidity problems, trading volume appears to be very light 8211 the movements are pretty clearly being driven in Tokyo by small scale FX speculators (8220Mrs Watanabe and her day trading son8221, said one Tokyo trader). Desks are saying that they expected a lot of volatility from those investors anyway, but nothing like this. The yen at that point surged almost Y3, pushing the dollar back to Y103.61 from Y105.98 8211 an almost unheard-of move in such a short time. From my colleague Nicole Bullock in New York: 8220It looks like noon here,8221 said a person on the FX trading floor at a large New York-based high frequency trader around 7:30 pm ET, in reference to the number of traders on the floor and the mood. The betting market has been all over the place over the past couple of hours, with swings similar in magnitude to those seen in sterling. Odds on a Leave win via Betfair have risen sharply to 35, having been as low as under 10 when polls closed. You can get the latest odds here . Apparent comfort for the Remain camp from the Isles of Scilly: but the numbers are too tiny to make much difference: at 803 to 621. Swindon is declaring and the result is in favour of Leave as expected: Leave: 61,745 Remain: 51,220 turnout is 75.8 My colleague Jim Pickard has just checked his spreadsheet and we had expected a 15 point lead for Leave and in reality it is a 10 point lead. Broxbourne in Hertfordshire has voted 66 in favour of OUT, which is higher than expected for the Leave campaign Andrew Bounds . the FT8217s North of England correspondent, has this from Andy Burnham, the Labour MP and shadow home secretary: Andy Burnham, the shadow home secretary, said he expected similar votes to Sunderland across the north. I want to say to those Labour supporters who voted to leave that I understand what they are saying and what they are worried about. The political class has not been listening to their concerns about immigration. There needs to be a review of how freedom of movement works. It may have come too late for his party. He also said Labour had run a distinctive campaign but been drowned out by the Conservative infighting From our markets editor, Michael Mackenzie : It8217s not just a big night for sterling. Japan8217s yen, a barometer of risk aversion is also setting a torrid pace, up 3.2 per cent against sterling as traders8217 early optimism of a Remain outcome has been shaken. The yen8217s gain of 1.1 per cent versus the dollar to Y104.96 will also attract the attention of officials 8211 they don8217t want to see a firmer yen and the prospect of currency intervention is in Tokyo morning air. John Curtice, one of the country8217s top psephologists, has just told the BBC that turnout in London is lower than expected, which would be a blow for the Remain camp, which is expecting the capital to strongly back staying in the EU. It may be that the bad weather8230 has knocked 2 or 3 points off the turnout there. The weather did cause havoc across London, with flooding causing widespread disruption to public transport. Oh good. From the FT8217s Nicole Bullock in New York: 8220This is just an appetizer,8221 said Giovanni Pillitteri, global head of foreign exchange trading at GTS, an electronic market maker. 8220If the vote remains so split, the pound is going to be even more volatile.8221 I should point out that we are not going to report every single declaration but as it stands we have had 11 results so far, with Leave holding a narrow lead on 321,339 to 314,521 for Remain. The Baghdad bureau chief for the Washington Post just Tweeted: The FT8217s Leo Lewis reports that hedge funds have been making their presence felt in currency markets, according to a senior Nomura strategist: Nearly an hour after that huge move in sterling and the yen8217s surge to a two-year high in the space of a few seconds, the FX crosses have settled very slightly 8211 long enough for Nomura8217s head of FX strategy, Yunosuke Ikeda, to tell us that hedge funds have definitely made their mark on trading this morning. Japanese retail is certainly in there giving the market direction, but the hedge fund speculators 8211 mostly based in London 8211 are causing these huge swings as the market takes in the impact of the 8220leave8221 camp doing better than expected on these early results, said Mr Ikeda. Market volatility is not just confined to sterling and the currency market, reports Michael Mackenzie . FTSE 100 futures are down 1.9 per cent in early trade as results from Sunderland and Swindon have triggered notable risk aversion. SampP 500 futures are off 0.5 per cent. Marcus Roberts, director of international projects at YouGov, has just dropped by our offices in Southwark. His take on it is that the urban middle classes were too slow to see the signals of disaffection about the EU in the regions. 8220There was the Ukip rise, the local and European election results, these were a long-awaited wake-up call,8221 he says. 8220The gap between the metropolitan, cosmopolitan, middle class voters and working class social conservatives has now grown so great that it simply cannot be ignored.8221 After 12 results in so far, this is the lead for Leave but as the results are coming in quickly this changes fast and our figures are different to the broadcasters as we are using the PA feed Here8217s the yen leaping around: Roger Blitz . the FT8217s currency correspondent, reports: A narrow Leave victory could prove 8220a record-breaker8221 for sterling, said Simon Derrick, FX strategist at BNY Mellon, as sterling8217s dramatic fall in the wake of the Sunderland result demonstrated. 8220Beyond GBP, we need to start thinking about how nations such as Switzerland and Japan will react should save haven flows begin to head their way,8221 he said. Mr Derrick suggested the market had failed to scrutinise the betting markets on the referendum. 8220Some may now also be recalling the comment from William Hill that 8216while 75 of the total money bet at William Hill had gone on Remain, in terms of the actual numbers of bets made it8217s the other way round: 75 of bets on Leave and 25 on Remain,82178221 he said. Japanese stocks edged higher on Friday morning, reports Leo Lewis : Japanese stocks have so far opted to ignore the spectacular moves that in the yen that preceded the opening bell and have left trading floors far more nervous over the referendum result than they expected to be last night. The benchmark Topix index, which has tended to move in tandem with the dollar-yen exchange rate, climbed 0.62 per cent in the first 15 minutes of trading. Our chief investment commentator, John Authers . on the wild swings in currency markets: The inquest has already started on how the foreign exchange market managed to make such an overconfident bet on a Remain vote. Whatever the outcome, that already appears now to have been badly unjustified. A technical explanation is that macro hedge fund managers have had a bad year so far, and may have been desperate to jump the gun, rather than let someone else reap the profits when a Remain victory was announced. If Leave does indeed triumph, that implies an elevated risk of a financial accident in the days that come as people try to unwind positions. Another way to look at this is in terms of the 8220narrative fallacy8221. Several different factors cohered last Thursday. Betting markets, watched ever more closely and with a lot of money behind them, reached a peak of belief in a Leave vote (although they never put the chance of Leave above 50 per cent, despite a lead for Leave in many polls). At this point they were ready to turn. At the same time, currency markets reached a psychological or technical barrier 8211 1.40 to the pound. This levels has only been breached a handful of times, and only ever very briefly, since the Plaza Accord in 1985. Traders had to ask themselves whether they were prepared to take sterling lower. Finally there was the awful tragic news of the murder of Jo Cox. This looked at the time like a turning point. Traders may have been too keen to treat it as such, and so the rush was on to put money on an ultimate Remain vote. It fit a convenient narrative that many could believe. And so the bet was on. As it stands, even if Remain emerges triumphant, this referendum looks like a reversal of the last national UK vote. Then, there was embarrassment for pollsters, and relative success for bookies and prediction markets. This time the polls, which continued to show a very tight race, are looking much smarter than the betting and currency markets, which allowed themselves to overshoot. Full disclosure 8211 there is a discrepancy between our totals on the interactive results page and those of the broadcasters 8211 the BBC and Sky. Our data gurus have double and triple-checked our numbers and believe the only explanation is the way we are taking the results feeds into our models. For example, there have been some individual results in from Northern Ireland but as it is only one of the 382 reporting authorities, our model will not include those numbers until the full declaration is made, which is expected around 4am. We hope this doesn8217t lead to any confusion. No big surprise in the first London result, with the City of London voting comprehensively for Remain, 75 to 25. But the IN camp won8217t be getting very excited as it only adds 3,312 votes to their total (vs 1,087 for Leave). As it stands the BBC is reporting that Leave has a lead of 53 per cent after 30 results, and has just topped a million votes (1,038,777 to be exact). Shetland and the Western Isles have backed Remain, 41 years after being the only two electoral districts in the UK to vote against membership of the then European Economic Community, reports Mure Dickie . Shetland voted to stay in the EU by 57 per cent to 43 and the Western Isles by 55 per cent to 45. The results in Scotlands most northerly and westerly archipelagos highlighted shifting attitudes to Europe among Scots voters since the 1975 referendum. Since that vote Scotland has gone from relatively Eurosceptic compared with England to more enthusiastic about EU membership. The leaders of all the parties in the Scottish parliament opposed Brexit and the Scottish National party, which opposed European membership in 1975, has become an enthusiastic champion of staying in. The Shetland result drew surprise praise on Twitter from US actress and singer Lindsay Lohan. Predicting elections is a tough business for pollsters, who have to stick their neck out on the eve of a vote. Here is Peter Kellner, formerly of YouGov, adjusting his own expectations: Chris Hanretty, a political scientist at the University of East Anglia, has the probability of Britain remaining in the EU at about a third given the results declared so far. Betting markets have switched dramatically in the last few minutes 8211 now favour a Leave result. Latest odds from Betfair here . Sir Vince Cable, the former business secretary, says: 8220It does look increasingly as if Leave are ahead, and we should perhaps begin to think about the political and economic implications of that.8221 He puts the apparent Leave swing down to 8220people in highly deprived areas of the northeast expressing their frustration8221. David Cameron would have to leave immediately if it is a Leave vote because his 8220authority is completely gone8221, Mr Cable argues. Sterling is getting clobbered all over the FX shop, reports Roger Blitz . Hong Kong8217s opening has driven the pound 7.7 per cent lower against the yen, and more than 3 per cent down on the euro. Against the dollar, the pound hit 1.4040. It is gyrating in a big way. In no time, it has picked up to 1.42. As our colleagues over on FastFT put it: Oof. Our Asia editor, Jamil Anderlini . reports from Hong Kong: 8220To mark the momentous vote on Friday morning, the Foreign Correspondents8217 Club of Hong Kong, a storied institution that was the setting for John le Carre8217s 8220The Honourable Schoolboy8221, offered a full English breakfast for members to enjoy while watching the results live on the BBC. From the shocked faces around the bar during the early results, when Leave seemed to be well ahead, it appeared that most British citizens based in the former crown colony were Remain supporters. Several prominent reporters and old-timers could be seen steadying their nerves with a stiff Bloody Mary or three in the finest tradition of the FCC bar. The breakfast was scheduled to finish by 10.30am 8211 3.30am UK time 8211 but as the plates were cleared away and the breakfast patrons began drifting off to work, the result was split exactly 50-50 with barely a third of all votes counted.8221 From Leo Lewis in Tokyo: Nearly two hours into the Tokyo morning session, the Topix is down a fairly narrow 0.4 per cent but the swings that have brought it here have been breathtaking. 8220This is the algos algorithms and the arbs arbitrageurs doing this,8221 said one broker after the Topix staged a 3.3 per cent per cent collapse and a 3 per cent rally within the space of one hour. 8220Who else is going to trade into this level of volatility and uncertainty We don8217t know what the world is going to look like in three hours8217 time.8221 After a cautiously positive start for Tokyo stocks, those huge swings in the yen 8211 now very much back in the role of global safe haven currency as the referendum results come in 8211 have made their mark. Although the yen has moved most spectacularly against the pound, markets appear to be more driven by the dollar-yen rate, which has seen the yen renew its highs of around Y103 8211 a level that has previously ignited speculation that the Japanese authorities might intervene. The political scientist Chris Hanretty is now saying that according to his model the referendum is over with no chance that Britain remains in the EU. Of course his model could be wrong. The mood is as intense on Australian dealing floors as those elsewhere, reports Jamie Smyth from Sydney. Daniel Been, a currency strategist at ANZ Bank in Sydney, who has been manning his desk since 5.30am, said he was swamped. Liquidity was as expected, he said, but any further signs of a close count will mean that there are fewer offers for US dollars and as such any disappointments are being amplified in the market moves. Local media report the Reserve Bank of Australia has warned the government an exit could unleash market swings in Europe with the risk of contagion spreading to other markets, including in Australia. Exporters were watching the vote particularly closely, dealers said. There has been a pick-up in hedging in recent days against the risk, however low it looked at the time, of an Out vote. In April the pound hit a 15-month high against the weak Aussie dollar at A0.54, but dropped to A0.49 last month as Brexit expectations rose. It was being see-sawed around on Friday, but stood at A0.526 as Sydney dealers ate lunch at their desks. John Curtice, the electoral guru, has told the BBC that the winning post is 16.8 million votes. As it stands Leave leads by just under 200,000 with 5,752,238 votes after 153 results. The inquest has already begun among Labour figures about what went wrong. John Mills, a Labour donor 8211 who helped fund the Out camp 8211 has said that Labour made a mistake by campaigning so 8220strongly8221 for In. 82208221The mistake they made was campaigning so strongly in favour of staying in, rather than having a supportive but critical stance,8221 he said. 8220Once they started saying that the EU had everything going for it and nothing wrong, it was not a credible position for people in the North of England.8221 Sheffield has narrowly voted for OUT by just under 6,000 votes, the city was meant to be a narrow win for Remain. Leave 8211 136,018 Remain 8211 130,735 Turnout was 67.3 Markets are clearly worried, with the Brexit plane parked on the runway with the engine running, reports Michael Mackenzie . Here are the key levels to watch 8211 a decisive break of 1.40 for the pound as we go below 1.399. Gold breaking above 1,300 as it spikes to 1,284. The 10-year Treasury yield below 1.50 per cent as it trades at 1.58 per cent. The Sheffield result has given betting markets a real kick. Betfair odds for Remain now down to 30. Miles Johnson . our global investment editor, passes along the comments of one hedge fund trader: I haven8217t seen price moves like this in sterling my entire career. I have never seen moves of 2 per cent up or down within an hour Even with the result not yet certain, punditry has begun to shift from 8220Who will win8221 to 8220Why does Remain look to have lost8221 Emily Thornberry, the Labour MP, is blaming lack of access to services and housing. Jonathan Reynolds, her colleague, tweets: Edinburgh, Scotland8217s second biggest city, has declared strongly in favour of IN: Remain 187,796 Leave 64,498 Turnout was 72.9 From Jennifer Hughes in Hong Kong: The focus is on trading London-related names. HSBC and Standard Chartered are taking a hammering, down 3.5 per cent and 4.9 per cent respectively. This after finishing up 2.4 per cent and 2 per cent in London on Thursday. Hong Kongs Financial Secretary, John Tsang, has also assured investors there territory has enough liquidity to cope with different scenarios. We have been prepared in different aspects. We have also reserved enough liquidity. So we should be able to handle different situations,8221 he said. But a lot of investors are staying on the sidelines as the count continues. Sometimes it really is better to sit on your hands and do nothing, said one hedge funder. Sure you could buy sterling at 1.40 and sell at 1.45 so long as you dont think its going to 1.25, which it might. Remember by the way that the SNP said they would push for a second independence referendum if Scotland voted In and the rest of the UK voted Out. It is in the UK prime minister8217s gift to grant this, but the question may soon be whether that person (whoever it is) can resist demands for yet another referendum from north of the border. Hilary Benn, shadow foreign secretary, has predicted that David Cameron will have to resign if 8211 as looks increasingly likely 8211 there is a Leave vote. If you are the PM, you have called this referendum, you have laid your reputation on the line and your arguments, I think its going to be very hard. Then again, Cameron may not need to be pushed. The prime minister must know that he staked his political reputation on convincing the British public to stay in the EU. Over on our results page you can see clearly where the most Eurosceptic and most Europhile parts of the UK are: Gibraltar is a bit of an outlier, literally. In the UK, the most Europhile reporting area so far is the London borough of Lambeth. Nigel Farage is giving a victory speech. The Ukip leader, who stood seven times for Parliament and was never elected, is now responsible for changing the course of British history. He was shoved aside by the official Tory-dominated Vote Leave camp but is still enjoying his moment in the limelight. 8220Honest, decency and belief in nation is, now, going to win,8221 he says, labelling today as 8216Independence Day8217. 8220Let8217s get rid of the flag, the anthem of Brussels and all that has gone wrong.8221 This the take on currency markets from FastFT8217s Katie Martin : Markets are hitting the ejector button. Sterling has of course been having a rough run all night, experiencing a record-breaking drop. But this is now morphing into something much broader and deeper. The yen, a classic retreat in times of stress, has just blasted higher, with the dollar sinking briefly under Y100. This puts the Japanese currency squarely in the territory where the central bank, acting on the ministry of finance8217s behalf, might be minded to intervene to weaken it. Sterling is now at. at around 1.35, a 30 year low having broken through 2009 crisis levels. It was over 1.50 when polls closed at 10pm last night. That8217s a drop of 8.8 per cent on the day so far. It8217s really very very messy. Here are some more quotes from Nigel Farage8217s celebratory remarks just now: Dawn is breaking on an independent United Kingdom. This will be a victory for real people, a victory for ordinary people, a victory for decent people. Today, honesty, decency and belief in the nation I think now is going to win. We have done it without a bullet being fired8230 We have done it with damned hard work on the ground. Let June 23rd go down in our history as our independence day. West Oxfordshire, which includes David Cameron8217s constituency, has just backed Remain. It will do little to cheer the prime minister, however, as it delivers only 35,236 votes against 30,435 for Leave. The OUT camp has a lead of more than 600,000 votes with 265 of 382 authorities reporting. There are still some areas with large populations to vote, however. John Curtice 8211 referred to jokingly on the BBC as St John Curtice because of the regard in which he is held in the polling world 8211 now says: If things carry on as they have been for much longer then it is difficult to escape the conclusion that Leave has won. Investors are rushing for havens as the chance of Brexit rises, says Elaine Moore . capital markets correspondent. Demand for US government bonds has pushed the yield on benchmark 10-year Treasurys 8211 the bedrock of the global financial system 8211 down 23 basis points to 1.54 per cent. If you need any further reminder of how far the shockwaves of the voting is spreading around the world, the Japanese finance minister, Taro Aso, has announced he will be giving a press conference in just under an hour, after the Yen strengthened against the US dollar as it passed below 100. Here are the previous levels for Japan8217s central bank to intervene, courtesy of Nomura via our colleagues on FastFT Birmingham, the UK8217s second biggest city, has voted in favour of Leave A little bit more on what is going on in Japan from the FT8217s Robin Harding in Tokyo: Japanese finance minister Taro Aso will hold a press conference at 1.15pm local time (5.15am in London), said the ministry of finance, after the yen briefly burst through Y100 to the dollar at one point. It fell back to trade at Y101.5. Officials at the Bank of Japan said they were 8220too busy to talk8221 or did not answer the phone. The pound8217s dramatic fall sets up the world8217s central banks for a revival of currency wars, reports the FT8217s Roger Blitz . A press conference has been called by Japan8217s finance minister Taro Aso, after results from the EU referendum piled risk aversion into the FX market, notably the yen. The yen climbed to below Y100 to the dollar, a rise of more than 4 per cent and hitting a psychologically significant level that was last reached in November 2013. Japan has refrained from intervening to weaken the yen, under pressure from the US government which has argued all the year that the yen8217s appreciation has been 8220orderly8221. But market analysts predict the turmoil caused by Brexit will give Tokyo reason to argue that the yen8217s appreciation to below Y100 is now a 8220disorderly8221 market event, giving the government reason to intervene. Other governments may also feel compelled to act. The Swiss franc is up 1.8 per cent against the euro to levels that will sit uncomfortably with the Swiss National Bank. Southampton has just declared for Leave, which now holds a lead of more than 730,000 votes, giving it a total of more than 12,400,000 votes. The winning side needs to go past 16.8 million votes Nicole Bullock reports from New York: The market for sterling is completely dislocated at this stage,8221 said Giovanni Pillitteri, global head of foreign exchange trading at GTS, an electronic market maker. 8220We are going to see a long period of volatility in the financial markets. This is going to have repercussions in all asset classes. We will see a flight to safety. We are making history tonight. We have comment in from Mohamed El-Erian, chief economic adviser to Allianz. With markets having wrongly bet on a Remain win in the last few days, and with patchy liquidity sure to amplify price movements, there will be severe pain for levered long investors and, potentially, opportunities for cash rich ones. Artificially-elevated financial markets were at the risk of either a policy disruption or a market accident. Brexit could well turn these two risks into reality. This is the latest state of play from the FT8217s results page My colleague Simon Mundy in Mumbai brings a grave warning from Tata Steel. The referendum result could damage the chances of Tata Steel maintaining its operations in the UK, the countrys biggest steel producer, according to a person close to the company. Its shares fell by 7.1 per cent on Friday morning in Mumbai, a drop beaten only by the 11.6 per cent decline for sister company Tata Motors, which also has a major UK subsidiary in the form of Jaguar Land Rover. Tata will soon announce a final shortlist of two, from the seven bidders who expressed interest in buying its UK steel operations, but it has also been in talks with the government about support measures that could enable it to stay. There will now be recalibration following the news that the UK will leave the EU, a major market for Tata Steel UK, the person said. This could change everything. The Bombay Stock Exchanges benchmark Sensex fell 3.4 per cent on Friday morning. As well as the Tata companies, banks were also hit hard, with ICICI Bank down 6.9 per cent, and Axis Bank falling 5 per cent. From the FT8217s Lombard writer, Jonathan Guthrie : It would have been better for pro-Remain business leaders to make free trade and tolerance of foreigners the positive central strands of its message. But this would have been too nakedly ideological for many of them. As it was, plenty of companies, such as J Sainsbury and Legal amp General sat on the fence. They said national self-determination was for the people, not the plutocrats, to decide. That was a respectable position, however much it irritated David Cameron. The referendum verdict has proved them right. The FT8217s Sarah Gordon wrote at the end of May of 51 chairman and chief executives of Europes leading multinational companies warning of the negative consequences of a British exit from the EU, for the rest of Europe as well as the UK. Read it here Gisela Stuart, the chair of Vote Leave, has attempted to strike a more conciliatory tone than that of Nigel Farage earlier. She even spoke for a time in her native German in an apparent attempt to quell fears about the result on the continent. Here is the meat of what she said: This is democracy at work and it is our opportunity to take back control over a whole area of democratic decisions. All of the political leaders will have to reflect on whether they have accurately gauged the people8217s attitudes and the people8217s desire of how to govern themselves. This has been a cross-party campaign and what happens now also has to be a cross-party effort. We have a responsibility to act in the best long-term interests of the country. Britain is an open society, it is a welcoming society. We will have to continue to be cooperating with European countries on an international level. This is an important decision about our future. It is about the people who have taken that decision, it is not about the politicians. This referendum has been fought against the backdrop of all the might of institutions and of money. It is now incumbent on all of us to be very calm, remember our responsibilities to the future of the United Kingdom and work together to start a process 8211 because this is simply the beginning of the process. In the long-run I think we will find both Europe and the United Kingdom will emerge stronger as a result of this. Grim projections for the auto industry, via the FT8217s Peter Campbell : Demand for new cars in the UK may fall by a fifth if the country enters a recession, a City analyst has warned in the first reaction from the automotive industry to a likely Brexit vote. Appetite for new cars falls by 20 per cent in a typical downturn, Stuart Pearson, an analyst at Exane BNP Paribas, wrote in an early morning note to clients. Shares in Japanese car makers with major manufacturing centres in Britain have fallen by around 7 per cent since the markets opened. Nissan, Toyota and Honda between them make 800,000 cars a year at their plants in Sunderland, Deeside and Swindon. Mr Pearson said that he projected significant sector underperformance among automakers, with Peugeot Citroen, BMW and Fiat Chrysler are among the companies most likely to be affected by the decision. The FT8217s head of data visualisation, Alan Smith, has this on how the vote divided the nation. Citi has downgraded two of the UK8217s biggest banks and warned clients of a sharp sell-off in UK and European banks after the dramatic outcome of the UK8217s referendum on EU membership, the FT8217s investment banking correspondent Laura Noonan reports . Citi downgraded both Barclays and Lloyds to 8220Sell8221, saying UK banks were 8220highly exposed8221 to Brexit and would suffer from the loss of the EU common market, slower loan demand from UK customers, higher funding costs, lower loan defaults and longer-term risks like Scotland exiting the UK. We also foresee c10-20 downside for European banks. Banks which are most exposed to Brexit include the investment banks, with primary (and secondary) volumes likely to be subdued for some time on heightened uncertainty. EU banks with UK operations 8211 such as Santander, Bank of Ireland, and Sabadell will also get hit directly on FX (foreign exchange) translation as the sterling weakens versus the euro. Team Brexit, aka Vote Leave, is currently making its way back to London after Gisela Stuart accepted victory in Manchester. The FT8217s Sebastian Payne understands that a fuller valedictory speech will be given from their campaign headquarters in Westminster later this morning. It will most likely be delivered by Boris Johnson, the former mayor London and will be 8220diametrically opposed to what Nigel Farage said at Arron Banks8217 party8221, according to a senior Vote Leave source. French president Francois Hollande is to speak to German chancellor Angela Merkel in about 10 minutes following the Brexit vote, says the FT8217s Anne-Sylvaine Chassany . The French leader will make a statement later in the morning. 8220No panic,8221 a French diplomat sought to reassure Friday morning. Meanwhile the National Front cheered. Marine Le Pen, the leader of anti-Euro, anti-immigration party posted the Union Jack on her Twitter account, saying: 8220Victory of freedom As I have asked for years, we need now the same referendum in France and in the EU country.8221 8220The European Union is collapsing and it8217s a very good thing8221 Florian Philippot, FN vice president, said on the radio. 8220We need now a referendum in France.8221 Germany now has a special duty to keep the EU united, a senior member of Angela Merkel8217s CDU party said this morning, as he decried Brexit as the 8220biggest catastrophe in the history of European integration8221. The FT8217s Berlin correspondent Stefan Wagstyl reports that Norbert Rttgen, chairman of the Bundestag foreign affairs committee, said: The overarching aim must now be secure unity and coherence in Europe. Germany can contribute to this like no other country. Rttgen also called for unity between eastern and western Europe to show the new member states that they not only had equal rights but were also as important as the original EU members. German industry leaders were also quick to comment, with the chief economist of Deka, which manages the assets of the country8217s savings bank, describing the result as a 8220political earthquake on a similar scale to the collapse of the Berlin Wall8221. 8220We expect a recession in the UK, and a hit to eurozone growth,8221 said Ulrich Kater, adding that it would take 8220two or three months8221 before the full impact was clear. 8220Inside the EU, the UK had a strong voice, even if it was unable to get all its wishes implemented,8221 Kater added. 8220Outside the EU, the UK is a small country with a lop-sided economy and a huge trade deficit.8221 Meanwhile, the head of Germany8217s banking association described the result as a 8220black day for the UK and Europe8221. Sterling has taken the brunt of the market reaction, and Dan McCrum reports the markets are braced for a rough ride ahead. 8220The moves we8217ve seen already are going to continue8221, said Vincent Chaigneau, head of rates amp FX strategy for Socit Gnrale. The bank had predicted a rate for the pound as low as 1.25 in the event of Brexit, and sterling looks to be heading toward that way already. In terms of European markets dramatic fallout is possible this morning, with the German and Italian bond markets key indicators of the level of stress. The German 10-year Bund only recently dipped below zero for the first time, but Soc Gen sees it moving 25 basis points below zero, or even as much as 40 basis points below. 8220I8217m not saying its going to be there today, but it could, maybe8221, said Mr Chaigneau. He also said the spread on Italian government debt is something to watch closely today, with 160 basis points over Bunds a key level. 8220If we break that we could go to 200 basis points, which would be the dividing line between contagion and crisis8221. The last time Italian bond spreads were above 200 basis points was February 2014. Claire Jones in Frankfurt reports that German markets are also being hit. The DAX futures index, representing options on Germany8217s leading companies, fell almost 11 per cent soon after opening to 9,164. The Frankfurt stock exchange will open in under thirty minutes. America reacts8230 Here8217s how the US media is reporting the referendum result, via the FT8217s Andrew Edgecliffe-Johnson . European newspapers are digesting the news. Ireland has the greatest immediate interest, and both Irish Times and Irish Independent have links to discussions about how Ireland will be hit by the economic backwash. Here8217s the Independent: and here is the Irish Times Italy8217s Correiere Della Sera has a headline that translates, roughly, as 8220Historic Vote, Britain leaves Europe, Farage exults, Cameron hangs on for now, Markets Panicking. Germany8217s Bild . which urged Britain to stay in, has pictures of gutted-looking Remainers and subtitles including 8220Europe8217s Black Day8221 Of the French newspapers, Le Figaro has the more dramatic approach, predicting 8220This is the beginning of a real cataclysm8221 Reaction from world leaders continues to pour in this morning. The FT8217s South Asia bureau chief Amy Kazmin reports that Arun Jaitley, the Indian finance minister, has said the country is 8220braced8221 for more volatility. Indian stocks are down 3.6 per cent this morning. We respect the referendums verdict. At the same time, we are also aware of its significance in the days ahead and also for the medium term. In this globalized world, volatility and uncertainty are the new norms. This verdict will, obviously, further contribute to such volatility not least because its full implications for the UK, Europe and the rest of the world are still uncertain. All countries around the world will have to brace themselves for a period of possible turbulence while being watchful about, and alert to, the referendums medium term impacts. The Indian government had previously made clear that it would prefer it if the UK remained part of the EU, with Sushma Swaraj, the foreign minister, last week describing the UK as Indias gateway to Europe. It is not just Sterling that is falling. The Euro is suffering its worst ever day against the dollar, reports FastFT Jeremy Corbyn, the Labour leader, has said David Cameron should invoke Article 50 immediately and start negotiations with the EU to maintain UK trade and jobs. I want them to decide now quickly what theyre going to do to stabilise the value of the pound. The important thing is to protect jobs, those jobs are partly dependent on the value of the currency and the export markets that are available, he told the BBC. He declined to say whether he thought the PM and his chancellor should resign. The relationship with the EU after exit is absolutely crucial to the economic future of this country and I hope the PM will be focused on that.8221 What he does in the longer term is up to him and his party, he added. He also said the UK would have to come up with a new immigration policy while recognising the enormous contribution migrants bring to the country. He deflected questions over whether his campaigning for the EU had been half-hearted. Donald Tusk, president of the European Council has warned EU leaders are determined to keep our unity as a 27 after the UKs exit. He said there would be no legal vacuum until the UK formally applies to leave the EU by triggering Article 50 and all EU law would continue to apply to the UK. Mr Tusk said: there is no hiding the fact we wanted a different outcome. 8220I am fully aware of how dramatic this even is. There is no way of predicting the political consequences of this event. This is a historic moment but not a moment for hysterical reactions8221 We are beginning to see commentary from major international banks (whose shares are widely expected to suffer badly today). Here is Morgan Stanley : The UKs vote to leave the European Union is a very significant decision which will have a considerable impact, the extent of which will not be known for some time. There will be at least a period of two years before an actual exit takes place, so there will be time to implement any changes required to adjust our business to the new environment. Morgan Stanley will continue to monitor developments very closely and will adapt accordingly while prioritising the interests of our clients, our shareholders and our employees. and here big rival Goldman Sachs from its boss, Lloyd Blankfein: We respect the decision of the British electorate and have been focused on planning for either referendum outcome for many months. Goldman Sachs has a long history of adapting to change, and we will work with relevant authorities as the terms of the exit become clear. Our primary focus, as always, remains serving our clients needs. John Cryan of Deutsche Bank is less phlegmatic, and includes a personal note: 8220At this stage, we cannot fully foresee the consequences, but theres no doubt that they will be negative on all sides. As a bank headquartered in Germany and with a strong presence in the UK, we are well prepared. However, theres no doubt that the uncertainty created by the referendums results will be a challenge,8221 he said. 8220Let me add a personal note: I am a strong supporter of the European project, which has brought peace and prosperity for more than 50 years. As a Briton and a European, it especially saddens me that Europe has obviously lost its attractiveness for many of my fellow countrymen. Its a clear signal to the EU to get closer to its people and to strengthen democracy. HSBC 8216s Douglas Flint is trying to sound reassuring: 8220We are today entering a new era for Britain and British business. The work to establish fresh terms of trade with our European and global partners will be complex and time consuming. We will be working tirelessly in the coming weeks and months to help our customers adjust to and prepare for the new environment. As one of the largest, most stable, liquid and prudent financial institutions in the world, HSBC is well placed to support our customers and the markets as they deal with the challenges that will arise. Our commitment to British businesses, customers and staff in the UK remains undiminished.8221 Thoughts in the city are also looking at which companies might be winners out of the vote, Jonathan Eley reports. This is the assessment from Deepa Venkateswaran, utilities analyst at Bernstein: Utilities less affected by UK leaving the EU as their business is largely domestic and defensive. National Grid and United Utilities would benefit if inflation rose (due to weaker pound) as their regulatory asset value and allowed revenues are linked to inflation. Centrica gets around a fifth of its operating profit from the US. However, Drax would be impacted by currency moves as its biomass feedstock is imported from the US 8211 and the prospect of another Scottish referendum would create uncertainty for SSE, which has a substantial asset base north of the border. Meanwhile, in Europe, the FT8217s Duncan Robinson reports from Brussels that Belgian prime minister Charles Michel said: 8220I call for a conclave to reaffirm our commitment in July. We have to define our priorities and set out a new future for Europe.8221 Michel was deeply critical of Mr Cameron8217s renegotiation efforts with the EU. In Dublin, the FT8217s Vincent Boland reports that Irish government ministers are meeting later this morning to discuss how the referendum will affect Ireland. Ireland is the only EU country that shares a land border with the UK. The government in Dublin also believes an exit will undermine the Good Friday Agreement, which secured a peace settlement in Northern Ireland in 1998. The hard-left nationalist Sinn Fein party called for a referendum on Irish reunification this morning, with the party8217s national chairman Declain Kearney saying: English votes have overturned the democratic will of Northern Ireland. This was a cross community vote in favour of remaining in the EU. English voters are dragging Northern Ireland out of the EU. This British government has forfeited any mandate to represent the economic or political interests of people in Northern Ireland. In a night of surprises, these are the areas where the results diverged most from the forecasts from academic Chris Hanretty. Bolsover in Derbyshire was the biggest surprise of all. (I went to Bolsover recently to report on its labour market: it has some of the lowest wages in the country and has never recovered from the closure of the coal mines). There is some reaction coming in from China, via the FT8217s Lucy Hornby . Those with interests in the UK will be interesting to watch George Osborne put great store by attracting Chinese investment. Huawei . a Chinese telecoms equipment manufacturer with RampD center in Bristol, says: 8220We respect the decision of the UK people. Huawei remains committed to providing value to our customers in the UK and Europe.8221 The biggest potential investment was to be in the Hinkley Point nuclear reactor, alongside EDF, the French utility. A senior executive at China National Nuclear Corp . a potential partner with China General Nuclear in Hinkley Point, says: At the moment we are more focused on the British market itself and what the changes might be there rather than the UK8217s EU membership. We don8217t know if after the UK leaves whether it will change its foreign investment policies whether it would still be open or adopt a more closed attitude. As a market, what will be the impact I don8217t see any immediate effect but in the long term it could mean a drop in projected electricity demand.8221 Gilt yields have set new records as the UKs decision to leave the EU fuels a rush for safety in financial markets, reports Elaine Moore Yields on benchmark 10-year UK government bonds dropped 31 basis points to a record low of 1.07 per cent, in line with dramatic falls in US and German rates, as investors express their concerns about the long-term ramifications of Brexit on the global economy. Major global bonds are benefitting from widespread risk aversion in markets, pushing the yield on US 10-year Treasurys to a near four-year low of 1.49 per cent while 10-year German Bund rates hit a record low of minus 0.17 per cent and Japans benchmark dip to a fresh low of minus 0.185 per cent. Investors in the UK say they are now focused on whether the Bank of England will step in to support the economy by cutting interest rates or reigniting a programme of quantitative easing. The BoE said on Friday that it was monitoring developments closely. Stocks are also falling. The FTSE 100 has slumped 7.4 per cent this morning in the wake of the UKs vote to leave the EU. Taylor Wimpey was the biggest faller, sliding 42 per cent, while RBS skidded 34 per cent and IAG slid 33.7 per cent. Lloyds Bank is one of the shares hit hardest in early trading, down some 30 per cent in the first few minutes after the open. We have reaction to the vote from a spokesman. They are hoping to emphasise continuity: We remain committed to our purpose of helping Britain prosper through our focus on UK retail and commercial banking, funding business investment, and serving the financial needs of our customers to support them throughout this period and beyond. There are no changes in the products or services offered to customers, either in the UK or overseas. Customers can continue to use our banking and insurance services as they did before. Customer deposits in the UK continue to be protected by the Financial Services Compensation Scheme and the Prudential Regulation Authority and Financial Conduct Authority remain our primary regulators. With the expected timescales for the negotiations, the Group will have time to consider any future changes that may be required in the new environment. What does the vote mean for house prices The FT8217s property correspondent Judith Evans has been talking to people in the property market this morning and this dispatch: The UKs house price boom is set to come to an abrupt end after the vote to leave the EU, estate agents and analysts said, predicting an immediate slowdown in transactions and a halt to the steep price rises of recent years. Richard Donnell, insight director at Hometrack, said that the immediate impact is likely to be a fall in housing turnover and a rapid deceleration in house price growth as buyers wait and see how the economy is affected. Price growth is set to go into reverse, meaning that prices will be flat over 2016, said Adam Challis, head of residential research at the property advisers JLL. He said the company expects price falls of 3 to 5 per cent in each of 2017 and 2018 but that is based on the best case scenario of a relatively orderly adjustment to our new political realities. Henry Pryor, a London buying agent, predicted a more drastic fall. The average home in the UK will probably end the year worth 20,000 less than it was worth in January, he said. The FT8217s Emma Dunkley has reaction from Nationwide . the country8217s largest building society (and thereby spared the trauma of a stock market reaction): Nationwide believes this was very much a decision for the British people and acknowledges the outcome of the vote accordingly. As the leading UK building society, and as one of safest and strongest financial services organisations in the country, the direct impact of the vote to leave the EU on Nationwide will be limited, and in the immediate and short-term nothing will change. Our priority, is to make sure that Nationwide continues to provide stability and security for members money for generations to come. Your money is as safe with Nationwide as it always has been. What won8217t change for Nationwide is that people will continue to need a home to live in and want to save and plan for the future. Helping people to achieve these aims will be our number one priority as it has been for over a hundred years. One of the biggest deals seen likely to be affected by a Brexit vote was the proposed merger between Deutsche Brse and the London Stock Exchange . They said that they remained 8220fully committed8221 to the 8220agreed and binding merger terms8221 and that it was continuing to seek regulatory approvals for the deal, despite the UK8217s vote to leave the EU. Here are parts of a statement: 8220The boards believe that the outcome of the referendum does not impact the compelling strategic rationale of the merger. The boards further believe that the combined group8217s capabilities, including global reach, distribution network across Europe, Asia and America, brand strength, financial resources and deep customer relationships, remain well positioned to serve global customers irrespective of the result of the referendum. The two exchanges added that they were in 8220ongoing and constructive dialogue with the appropriate UK and German governments and lead regulators, including the Bank of England, FCA, BaFin and the government of Hesse, to discuss the merger, including the referendum outcome, as well as all other relevant governments, regulators and authorities in France, Italy and other countries in which we operate.8221 David Cameron has said he will step down as prime minister after a 8220period of stability8221. He said on the steps of Downing Street there did not need to be a fixed timetable for this, but the new PM should be in place by the time of the Tory party conference in October. He also said the new PM should be the one to decide when to trigger Article 50, which suggests that won8217t happen for a few months at least. The British people have made a very clear decision to take a different path and I think the country requires fresh leadership to take in this direction. I do not think it would be right for me to try to be the captain that steers the country to its next destination.8221 First sign of currency wars The FT8217s Roger Blitz reports that the Swiss national Bank says it is intervening in the FX market as a result of the impact of Brexit, which has driven the Swiss franc higher by more than 1 per cent against the euro. It8217s not just German politicians and industry leaders speaking out this morning. The FT8217s Claire Jones and Stefan Wagstyl report the German media were 8220distraught8221 by the news that the UK had voted to leave the EU. Handelsblatt, a business daily, said the European version of doomsday was reality. Britain has a majority that has decided to harm themselves, handelsblatt said. The lead article on the website of the conservative broadsheet the Frankfurter Allgemeine Zeitung described the vote in favour of leaving the EU as a sad day for Europe and Great Britain. Spiegel magazine also warned that right wing populists in the whole of Europe were delighted and are now also demanding referendums over the EU. The Big Bang Spiegel said in a headline above an instant online commentary. 8220The incomprehensible has happened. The British want to leave the EU. The result of the referendum is close, but the result is unambiguous. The Sddeutsche Zeitungs website did not mince its words, saying the British had made a decision full of fear. Bild, the top-selling daily, stuck to the facts. Its online splash said simply: The EU opponents have won, above a picture of young Bremain supporters looking shocked at a post-poll party. The caption read: Incomprehension among the Brexit opponents in London as they grasped what is now official: the British are getting out. Roger Blitz . our currency correspondent, reports that the Swiss National Bank says it is intervening in the market. The Swiss franc has risen over 1 per cent against the Euro: a day ago it stood at 1.0880, and it is now at 1.0780. However, it is still the yen that has seen the greater changes. At JPY 102.7 to the dollar, it stands around 3 per cent higher than it was a few hours ago 8211 but it also dipped below 100 to the dollar when the result came through. Another important point from David Cameron8217s speech: he assured EU nationals living in Britain, and British nationals living in the EU, that there would be 8220no immediate changes in your circumstances.8221 Here are the thoughts of Julia Onslow-Cole, head of global immigration at PwC Legal, on what Brexit means for immigration: This vote could have significant impact on businesses ability to recruit both highly and low skilled individuals. However, the full extent of this impact won8217t be known until the trading negotiation position is decided and whether or not this includes a requirement to implement Freedom of Movement. Although it is widely expected that grandfathering will occur, whereby existing EU migrants would be able to continue to live and work in the UK, it is still unknown what transitional arrangements, if any, will be made. Businesses also face potentially increased immigration regulation both in the short and long term and should start to plan accordingly. EasyJet is seeking to reassure investors this morning, after the referendum result sent shares down nearly 15 per cent in the first hour of trading. The company said in a statement that it was 8220confident8221 the result 8220will not have a material impact on its strategy or its ability to deliver long term sustainable earnings growth and returns to shareholders8221. The company added: easyJet has been preparing for this eventuality in the lead up to the referendum vote and has been working on a number of options that will allow it to continue flying in all of its markets. easyJets initial focus will be to accelerate discussions with UK and EU governments and regulators to ensure that the UK remains part of the single EU aviation market. This would enable EU airlines to fly freely within the UK and between the UK and EU, allow UK airlines to fly freely across Europe and would ensure that consumers continue to benefit from low fares and would mean easyJet and other airlines can continue to operate as they do now. easyJet will also continue to develop its alternative options that will fully maintain its existing network and operations. easyJet is confident that its unique network, digital leadership, cost advantage and financial strength will enable it to continue to execute on its strategy and to deliver long term sustainable earnings growth and returns to shareholders. EasyJet chief executive Carolyn McCall, a member of UK Prime Minister David Cameron8217s business advisory group, had campaigned for the UK to remain in the EU. Earlier this year, she warned that the cost of flights would go up if the UK left the EU. Dan McCrum has been talking to investors, as markets are being hit across the board. 8220Credit markets have moved across the board8221, according to Jim Leaviss of MampG Investments. Trading in individual corporate bonds, the so called cash market, is yet to get going this morning but there have been some sizeable moves in the indices where fast buying and selling tends to be concentrated. The euro crossover index spread, which tracks the market for debt judged sub-investment grade, had moved 81 basis points wider just before 8am this morning, although it had been as wide as 120 basis points earlier in the day. The move is equivalent to a drop in the value of the market of about 4.5 per cent. Bank bonds have been worse hit, with some of the more lowly rated banks based in the peripheral countries of Europe experiencing big moved in their bond prices, of as much as 10 percentage points. Like many investors Mr Leaviss was contemplating when the Bank of England will take action, with an immediate rate cut today or at the weekend a possibility. The Bank has held base rates at half a per cent since the crisis, at the time indicating it would not cut below that level due to the possible impact on building societies, who would see their profits squeezed. However 8220at a time when everyone in the world, excluding the Federal Reserve, is at zero, 50 looks high8221, said Mr Leaviss. Bank of America Merrill Lynch has this morning said a July rate cut is likely, potentially with fresh quantitative easing coming the following month. Trevor Greetham, of Royal London Asset Management described a flurry of emails this morning. 8220There8217s quite a lot of shock and consternation8221, he said. Mr Greetham, who invests across asset classes, was yet to put in buy orders on Friday but said that his instinct was to buy UK equities, which in US dollar terms were facing a decline of 15 to 20 per cent, given the nature of markets is to overreact in the short term. Political pundits are beginning to react to Cameron8217s resignation. Here is Steve Hawkes of the Sun: George Eaton, political editor of the New Statesman, thinks Britain may need to prepare for an election: The Spectator8217s Fraser Nelson thinks this an unfair disaster: and blames certain Europeans: The Remainers had warned about serious security implications if Britain voted to leave. The Secretary General of NATO, Jens Stoltenberg has put out what you might call a calm-down statement: As it defines the next chapter in its relationship with the EU, I know that the United Kingdom8217s position in NATO will remain unchanged. The UK will remain a strong and committed NATO Ally, and will continue to play its leading role in our Alliance. Today, as we face more instability and uncertainty, NATO is more important than ever as a platform for cooperation among European Allies, and between Europe and North America. A strong, united and determined NATO remains an essential pillar of stability in a turbulent world, and a key contributor to international peace and security. The Alliance remains committed to closer cooperation with the European Union. At the Warsaw Summit in July, we will step up our cooperation, because together we are more effective in upholding our common values and keeping our nations safe. The FT8217s science editor Clive Cookson says the pharmaceutical and biotechnology sectors are 8220shocked by the impending loss of the EU regulatory umbrella, market access and funding8221 and 8220will be calling on the government for new incentives to stem what they fear will be an outflow of companies and scientists to continental Europe and beyond8221. Cookson spoke to Mike Thompson, chief executive of the Association of the British Pharmaceutical Industry, who said: 8220Inward investment stopped about three months ago because of uncertainty about the referendum.8221 8220We have to be realistic now and accept that people will not invest here until we do something different,8221 Thompson added. In a statement AstraZeneca said: We believe that the UK remaining in the EU would be in the best interests of patients, our industry and our company, but naturally we respect the democratic decision reached in this referendum. 8220Clearly, there will now be a protracted period of transition and we will engage with all the relevant stakeholders to safeguard the competitiveness of the life sciences industry and the speed of patient access to innovative medicines. GlaxoSmithKline, the other big UK drug company, said: Although the EU referendum result creates uncertainty and potentially complexity for us in the future, we do not currently anticipate a material adverse impact on the business, groups results or financial position. We will continue to operate as usual and will engage in the process ahead. Jo Pisani, head of pharma and life sciences at PwC, commented: The pharmaceutical industry now faces a daunting challenge, particularly in terms of regulations for drug development and approvals, intellectual property and investment in the UK. In the area of regulations for drug development and approvals, the UKs impact on EU regulation is likely to diminish, making any UK involvement both more complex and costly or duplicating effort, she added. 8220With 7 per cent of the UKs pharma workforce being non-British, the industry will begin to see obstacles as migration and border controls change. The European Medicines Agency, the EU drugs regulator which employs 600 people in London, has said it will have to leave as a result of Brexit. It is politically inconceivable that the major European governments will allow the EMA to stay here, said Mr Thompson. But the industry will play a role in helping to find an arrangement that allows the EMA to continue working with the UK Medicines and Healthcare Products Regulatory Agency. London: the independent city-state Lots of FT readers today mooting the idea that London (which voted overwhelmingly to stay in the EU) should declare independence from the rest of the country. 8220Forget about negotiating to restore trade access. London should quickly seek independence from the rest of the UK. It should then rejoin the EU. People living outside London but working there would be given special employment passes. London would continue to abide by EU rules regarding immigration, budget, and regulations, but the space is smaller, the share of budget would be smaller, and regulations regarding cows and bananas would be academic.8221 on. ft28PxV92 8220World, Europe, UK, England, south east, London, borough, street, house, family, me. The people have spoken, but which people The England and UK bits stick out as the only parts I disagree with, yet it appears I8217m stuck with them. Must that be the case Self determination for London, anyone Given the clear difference of view and the globalised world around us, would it really be that crazy an idea I suspect the bits that voted Brexit would vote in favor as well. I8217m not saying this as punishment, simply that there8217s clearly a massive split in the country. Can it be healed Does it need to be Why not let us choose to be LondonEuropeanglobal citizens Now that really would be a fine day for democracy.8221 A petition has even popped up on change (albeit it only has 34 supporters at the time of writing). For anyone else intrigued by the idea, the FTs Philip Stephens wrote an excellent op-ed in 2014 making the case for London the independent city-state. A snippet: The economics of independence speak for themselves. With a population of 8.5m (closer to 13.5m in the wider metropolitan area) London accounts for more than a fifth of Britains gross domestic product and generates as big a chunk of its tax revenues. This gives it an economy about the size of Sweden. Unemployment is less than 3 per cent the demographic profile is more youthful than in the rest of the UK. Tourists spend 20bn each year in the capital. Overseas markets have seen some of the sharpest falls. According to Nigel Wilson, chief executive of Legal amp General on Sky Television, this reflects a lack of preparedness: 8220It has come as a complete surprise to Japan, America and Europe, They are trying to figure what are the consequences for them. Our view is it was only a matter of time before one country voted to exit Europe, It happened to be Britain. It could easily have been France, Spain, or the Netherlands or many other countries. People in general and across the world are unhappy about the way economies are developing and particularly the rich v poor divide. So poor people in rich countries haven8217t been doing well for a long period of time.8221 This provides us an opportunity to look at how those markets have been reacting. Japan8217s Nikkei 225 is down 1,286 points, or almost 8 The CAC 40, in France, is down about 370 points, again 8 Germany8217s Dax 30 has fallen 690 points, almost 7 As for the US markets, they obviously are not open yet but the futures markest suggest the SampP 500 index should open at 2040, down 3.5. So Mr Wilson has a point: with the FTSE down 5, most of these overseas markets are taking it worse. Remember, though, that most of the FTSE 1008242s earnings are overseas, and in terms of sterling, the fall in the pound will have helped. Companies in all jurisdictions are now trying to adjust to the new reality. Paul Polman, chief executive of Unilever, the Anglo-Dutch producer of magnum ice cream and Dove soap, has been one of the most outspoken business leavers in favour of remaining in the EU, 8220Europe has given us far more benefits than downsides and long may that last,8221 he said last month, Scheherazade Daneshkhu reports. On Friday, he said in a tweet: 8220The most important thing to have long term prosperity is to accept the will of the people and respect democracy. Now we all need to unite.8221 The ECB has joined the BoE in pledging to provide liquidity to keep the markets functioning, Claire Jones reports. The European Central Bank has just published a statement to say that it is 8220closely monitoring financial markets8221. Markets across the eurozone have tanked on the back of the decision by the UK to quit the EU. The euro has also fallen against the dollar today. The statement follows a telephone conference call by the ECB8217s governing council earlier this morning. There were, as yet, no signs of liquidity stress anywhere in the region, according to a senior Eurosystem official. In general markets were functioning, the official said. The ECB said it 8220stands ready to provide additional liquidity, if needed, in euro and foreign currencies8221 and that it had 8220prepared for this contingency in close contact with the banks that it supervises and considers that the euro area banking system is resilient in terms of capital and liquidity.8221 The ECB is one of six central banks 8212 among them the Bank of England and the Federal Reserve 8212 that is involved in a network of swap lines, set up eight years ago during the early days of the financial crisis. Through the lines, banks across the world can access euros. Since the crisis began in 2007, the ECB has provided euro liquidity to banks in the single currency area in potentially unlimited amounts. The senior Eurosystem official said there were no plans for emergency overnight auctions at present. Supervisors in the ECB8217s Single Supervisory Mechanism have been speaking to the eurozone8217s biggest banks about how they would handle a Brexit. In a statement today, the central bank said: Following the outcome of the UK referendum, the European Central Bank (ECB) is closely monitoring financial markets and is in close contact with other central banks. The ECB stands ready to provide additional liquidity, if needed, in euro and foreign currencies. The ECB has prepared for this contingency in close contact with the banks that it supervises and considers that the euro area banking system is resilient in terms of capital and liquidity. The ECB will continue to fulfill its responsibilities to ensure price stability and financial stability in the euro area. If you8217re wondering what this means for Scotland and the SNP8217s independence ambitions, Nicola Sturgeon will be holding a press conference at 11am8230 She has already raised the prospect of a second Scottish independence referendum after the UK-wide victory for the Leave camp, saying this morning it was clear that the people of Scotland see their future as part of the European Union. There appears to be a bull market brewing in colourful quotes. The FT8217s Northern correspondent, Andy Bounds . reports some blue-on-blue action featuring a former donor to the Conservatives, Andrew Cook. Mr Cook manufactures steel in Sheffield, and is not happy. I do not believe Boris Johnson or Michael Gove have the best interests of the country at hear. The leavers have the most awful hangover. They are like the host of a teenage party that wakes up to find their friends have trashed the house. Mark Garnier, a Conservative backbencher not shy of expressing the odd view, is dismayed: One of the things we have looked for as trade envoys is direct foreign investment into the UK, weve marketed Britain as that perfect entry point we are no longer an access point for Europe. Theyll see us only as a market for ourselves. Our USP to the rest of the world has now been cancelled. Were now a single destination market. But one man who must be grinning like a Cheshire cat is Crispin Odey, prominent OUTer and with a portfolio perfectly poised for this. In February he said 8220Europe turns us into a colony and we are used to an empire. We are not used to obeying rules we havent set. He will have more to say later, no doubt. Richard Milne, the FT8217s Nordic correspondent . reports that in Denmark, the second-largest political group has called for the country to hold its own referendum on EU membership. Kristian Thulesen Dahl, head of the anti-immigration Danish People8217s party, which supports the centre-right government from parliament, told Danish TV: 8220I8217m a believer that Danes obviously should have a referendum on if we want to follow Britain or keep things the way we have it now.8221 Dahl8217s comments come on the heels of other populist parties calling for their own referendums. In France, National Front leader Marine Le Pen posted the Union Jack on her Twitter account, saying: 8220Victory of freedom As I have asked for years, we need now the same referendum in France and in the EU country.8221 We are a few hours into post-Brexit vote world, and there is time to absorb some of the great content on the Financial Times about this extraordinary event. You need to read Martin Wolf The hinge between the EU and the English-speaking powers has been snapped. This is quite probably the most significant event in British history since the second world war. It could mark an important moment in the wests retreat from globalisation. It is, above all, a victory of the disappointed and fearful over those confident in the UKs ability to adapt to change and lead in Europe. And he expects the negotiations to be bloody: Why should they treat a country that has given them such a kick in the teeth generously Yes, Germany has a trade surplus with the UK. But it will continue to sell high-quality products that the UK does not make with ease. While the impact on the UK and European economies will be negative, there is the possibility that the hit to confidence is not as bad as feared and the status quo, in terms of global trade, is sustained for quite a long time. In any case, the UK is less than 4 per cent of the world economy. Finally, and perhaps most importantly, big, long-term investors such as pension funds and insurance companies are absolutely starved for yield. If a correction makes yield available, they will step in to grab it. Janan Ganesh says Britain will come to rue the loss of Cameron: Since Anthony Eden launched a botched military intervention in the Suez Canal 60 years ago, there has been no greater prime ministerial humiliation Equally plain is that his successor will take over a culturally riven country, a precarious economy, pressure for a snap election, a diplomatic wrangle with Brussels over the terms of extrication and, potentially, another effort by Scottish nationalists to withdraw their pro-European nation from the UK Amongst all the other divisions this referendum has exposed, Patrick Jenkins sees the British public taking revenge on the City : The vote for Brexit is a rejection most obviously of EU bureaucracy and EU-sponsored immigration, but also perhaps of a still thriving City of London that, eight years after the financial crisis it helped cause, remains resented by a large segment of the British population. Bryce Elder . the FT8217s UK equities reporter, says London8217s equity markets look to be heading towards the busiest trading day on record. More than 2.7bn FTSE 100 shares had changed hands across the main exchanges by 10.30am on Friday, up nearly 500 per cent on the recent midmorning average, Bloomberg data show. The previous highest-volume session, during the sovereign debt crisis of May 2010, saw 4.45bn blue-chip shares traded. Prime Minister David Cameron is having an audience with the Queen at Buckingham Palace. Meanwhile, Boris Johnson is preparing to speak. The FT8217s Jim Pickard is there: I8217m in a room of about 50 hacks waiting for the great Boris Johnson pronouncement: his first words since Brexit. It8217s high up in Westminster Tower in Vauxhall. There8217s a real sense of anticipation about history being made. Three Vote Leave people will speak but Boris is obviously the star attraction. The only problem: apparently he won8217t take questions8230.. In the center of London, which voted strongly to remain, Naomi Rovnick reports on a mood of shock. Sitting on steps next to the lawn in Broadgate Circle, a base for investment banks, seven young economists, each non-British and each from a different country, discussed their reactions to the vote. 8220I woke up crying8217, said Anna from Sweden, 28. 8216I am super depressed about the wider ramifications for British politics and the economy8221 8220We were in a bubble in London thinking this would never happen,8221 said Andrea from Germany, 27. 8220The City will of course be affected. If EU citizens cannot come here to study MBAs as easily, there will be fewer good people for banks to hire8221 Jo, a 35 year old Moroccan added: 8220it will definitely slow the flow of people to the City8221 However, not everyone in the city is depressed by the vote. Tim Scorer, aninsurance lawyer and consultant to law firm Kennedy8217s said he had voted 8216out8217 and that 8220the insurance sector here is large and international and will find a way to weather any problems,8221 as he sipped milky coffee outside a cafe in Leadenhall market in the sunshine. Two shoeshiners in the market, which is where insurance workers from the nearby Lloyds building go to eat, drink and shop, said business this morning has been the same as usual. Italian stocks are on course for their worst day of trading on record, the FT8217s Mehreen Khan reports on fastFT . The countrys benchmark FTSE MIB index fell as much as 11 per cent today, easily its worst day of trading since it launched in 1998. At pixel time, Italian stocks are down 10.6 per cent at 16144, taking the biggest hit among Europes major indices. Spains Ibex is down 10.26 per cent, while Frances CAC 40 is down 7.84 per cent at pixel time. Germanys Dax has pared losses after opening in the red by as much as 10 per cent, and is now 6.6 per cent down on the day. Italy, which has the highest government debt burden in Europe after Greece, has been particularly vulnerable to market jitters about the resilience of the eurozone. The countrys 10-year bond yields had traded up by more than 30 basis points higher today (0.3 percentage points) to 1.6 per cent a four month high, but have since retreated to 1.473 per cent. From Brussels we8217ve just had a joint statement from Donald Tusk (president of the European Council) Martin Schulz, (president of the European Parliament), Mark Rutte, (holder of the rotating Presidency of the Council of the EU), and Jean-Claude Juncker, (president of the European Commission). 8220In a free and democratic process, the British people have expressed their wish to leave the European Union. We regret this decision but respect it. This is an unprecedented situation but we are united in our response. We will stand strong and uphold the EU8217s core values of promoting peace and the well-being of its peoples. The Union of 27 Member States will continue. The Union is the framework of our common political future. We are bound together by history, geography and common interests and will develop our cooperation on this basis. Together we will address our common challenge to generate growth, increase prosperity and ensure a safe and secure environment for our citizens. The institutions will play their full role in this endeavour. We now expect the United Kingdom government to give effect to this decision of the British people as soon as possible, however painful that process may be. Any delay would unnecessarily prolong uncertainty. We have rules to deal with this in an orderly way. Article 50 of the Treaty on European Union sets out the procedure to be followed if a Member State decides to leave the European Union. We stand ready to launch negotiations swiftly with the United Kingdom regarding the terms and conditions of its withdrawal from the European Union. Until this process of negotiations is over, the United Kingdom remains a member of the European Union, with all the rights and obligations that derive from this. According to the Treaties which the United Kingdom has ratified, EU law continues to apply to the full to and in the United Kingdom until it is no longer a Member. As agreed, the New Settlement for the United Kingdom within the European Union, reached at the European Council on 18-19 February 2016, will now not take effect and ceases to exist. There will be no renegotiation. As regards the United Kingdom, we hope to have it as a close partner of the European Union also in the future. We expect the United Kingdom to formulate its proposals in this respect. Any agreement, which will be concluded with the United Kingdom as a third country, will have to reflect the interests of both sides and be balanced in terms of rights and obligations. Leading Leave campaigner Michael Gove has told a press conference that the vote to leave is just the start of a process. In an attempt to offer reassurance to the nation, he said that the outlook is one of gradual divergence. We will calmly and united take our country forward, he said. But he was clear that this is a new chapter for Britain, adding The British people have given us all a very clear instruction. Mr Gove also argued that informal negotiations should begin before formal talks with the EU. It is not yet clear whether the EU will be prepared to accept that approach. Boris Johnson: 8220The EU was a noble idea for its time, it is no longer right for this country8221 Boris Johnson has just spoken to the nation, saying there is no need to rush the process of separation and making an appeal to young people (who mostly voted to remain.) 1) There is now no need for haste, nothing will change in the short term except work will have to begin on how to deliver the will of the people. There is no need to invoke article 50 right now. 2) To young people who may feel this is 8220pulling up the drawbridge8221 he said the UK would remain European, remain a great power in the continent, and continue to interact with the world 8220in way that is open and friendly and outward looking.8221 3) This is a 8220glorious opportunity8221 to take full control of our laws, set all of our taxes, and to 8220take the wind out of the sails8221 of people who play politics with fears of immigration. 4) David Cameron is 8220one of the most extraordinary politicians of our age8221 and it was right to put this decision to a referendum. 8220There is no way of dealing with a decision of this scale without putting it to the people.8221 Nicola Sturgeon: 8220A second Scottish independence referendum must be on the table, and is on the table8221 The Scottish leader has said Scotland voted to stay in the EU and should not be taken out against its will. 8220We said clearly that we do not want to leave the EU. I am determined that we will do what it takes to make sure these aspirations are realised.8221 1) She will take 8220all possible steps and explore all options8221 to secure Scotland8217s continuing place in the EU and in the single market in particular. She will speak to the EU institutions and EU member states to stress that Scotland voted to remain. Scotland must be involved in all Westminster discussions. 2) Brexit means there has been a 8220significant and material change8221 since the Scottish independence referendum, so another is on the table. Not right to rush before discussion have been held, but 8220we will begin to prepare legislation that would be required for a new Scottish referendum to be held8221 3) London mayor Sadiq Khan apparently shares this ambition according to Sturgeon (London also voted overwhelmingly for remain). More from the FT8217s Paris bureau chief, Anne-Sylvaine Chassany . who reports that National Front leader Marine Le Pen is reviving calls for a similar referendum on France8217s EU membership. 8220What many refused to envisage even a few months ago is now reality,8221 Ms Le Pen said at the FN8217s headquarters in the outskirts of Paris. 8220It shows that contrary to what some had said, the EU is not irreversible. The British people has taught us a resounding lesson in democracy. 8220Markets8217 hysteria should not intimidate us, international high finance doesn8217t dictate our lives,8221 the anti-euro, anti-immigration politician added. France8217s EU membership will be at the centre of the French presidential campaign next year, Ms Le Pen predicted. 8220I think that the UK has initiated a movement that will not stop,8221 she said. 8220The European debate imposes itself to all now and I8217ll make sure it imposes itself in the presidential campaign. It8217s the end of the EU as we know it.8221 Ms Le Pen will meet with like-minded EU MPs to build a new 8220Europe of the nations,8221 she said. Chassany also reports that Xavier Bertrand, the centre-right president of the Hauts de France region, has requested a renegotiation of the Touquet accord between France and the UK, that allows Britain to carry border controls and keep unwanted migrants on the French side of the Channel. French president Francois Hollande has said the Brexit vote was 8220painful choice8221 that he 8220deeply8221 regretted and that put the EU 8220gravely8221 to the test, reports FT8217s Paris bureau chief, Anne-Sylvaine Chassany . The danger is immense in the face of extremism and populism,8221 the French leader said in televised address. 8220It is always quicker to unwind than to construct, to destroy than to build. France, as a founder of the EU, will not accept it.8221 France, he said, will make proposals to bolster the bloc8217s security and defense, growth and jobs, fiscal and social harmonisation and the eurozone8217s governance. However, president Hollande also vowed to continue to work with the UK, 8220this great country and friend8221 on security, trade and culture. 8220The UK will no longer be part of the EU. That8217s the rule, that8217s the consequence,8221 he said. Barclays Bank is one of the stocks hit hardest today, down 20 per cent, and more than a third since the beginning of the year, and almost half since last summer. Gulp. So time for CEO Jes Staley to offer some words of comfort to the troops Hmm, maybe not. Banking editor Martin Arnold has his hands on a memo to staff, which is frank about the uncertainty ahead: 8220For those of you who are not UK nationals, but based in the UK, I know that the vote to leave may also raise questions about your own future. I do not pretend to have the answers but I know that our people are the lifeblood of Barclays, regardless of where theyre from, so we will do all we can to support you8230 The Barclays CEO said there would be 8220many questions asked in the coming days and weeks about what happens next 8230 The answers are complex but our position is not: we will not break our stride in delivering the Barclays of the future.8221 In case you are curious what that is, he called it a 8220a transatlantic consumer, corporate and investment bank, anchored in the UK and the US. That remains the core of our strength and the Barclays of the future.8221 Tough times. Here is the latest Lex note on Barclays to help you mull this over. European Commission president Jean-Claude Juncker walked out of a press room in Brussels after being asked if Brexit marked 8220the beginning of the end of the EU8221. Juncker replied 8220no8221 before leaving the room to applause from European officials, the FT8217s Mehreen Khan writes on fastFT. Making his first comments since the referendum results were announced, Mr Juncker also said he expected the UK to trigger the Article 50 clause to begin its exit process and for the government to formulate its proposals with regards to its new relationship. There will be no renegotiation, he said. Any agreement will have to reflect the interests of both sides and be a balance of rights and obligations. It is nearing lunchtime in London, and we have heard from Prime Minister David Cameron, former mayor of London Boris Johnson and Scotland8217s first minister Nicola Sturgeon, among others. After a manic morning for markets, we8217re not going anywhere. But we will be continuing blog on a new page here . Bookmark the blog rolling coverage from the FT8217s reporters around the world will continue throughout the afternoon and into weekend.