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EU referendum: UK votes for Brexit

The UK has voted to leave the European Union, with 51.6 per cent of people voting to leave.

The value of the pound has plummeted overnight – falling more than 10 per cent against the dollar in the biggest one-day fall ever seen.

The FTSE 100 opened down sharply on yesterday, with analysts expectaing a fall of around 7 per cent over the day.

Currency traders say these moves are more extreme than those seen during the financial crisis of 2008, according to the BBC. 

Asian markets have also come under pressure as the referendum results came in overnight.

Construction leaders will be watching the effect on the share prices of UK companies from 8am.

Greater than predicted support for Leave in many council areas in England contributed to growing confidence in the Leave camp throughout the night.

The UK national broadcasters called the result around 4.30am on Friday. By 6am 373 of the 382 counts in UK councils had been declared. Turnout was at 72 per cent.

In Scotland, all 32 council areas voted to remain, in contrast to much of the rest of the UK. Calls for Scottish independence surfaced immediately.

But voters in Wales showed strong support for the Leave campaign.

Construction News will be bringing you the latest on the effects on the UK construction industry of the EU referendum throughout the day.

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