Are things beginning to settle?

FTSE 100 closes above pre-Brexit level.

The FTSE 100 has surged through the level it closed at last Thursday, recovering all of the ground it had lost in the wake of the Brexit vote. The FTSE 100 share index closed up 3.6% at 6,360.1 after a flurry of last-minute trading. At the close of trade on Thursday last week, before the referendum vote, the FTSE 100 ended the day at 6,338.10. The pound also strengthened against the dollar and euro. Analysts said the sharp recovery in the FTSE 100 was unexpected. "It is safe to say that, of all the post Brexit outcomes discussed across the City over the past few months, 'buying frenzy' was not one that was viewed as very likely," said Chris Beauchamp, senior market analyst at spread betting firm IG. "The plethora of bargains on offer, plus a welcome period of calm in the UK/EU relationship has provided the opportunity for markets to recover in impressive fashion," he added. However Joe Rundle, head of trading at ETX Capital, warned reality was likely to bite soon. "What we're seeing in the FTSE is hope in Britain being able to ride it out by remaining part of the single market. This looks like wishful thinking."

EU says no compromise on freedom of movement.

European Union leaders have warned that the UK must honour the principle of free movement of people if it wants to retain access to the single market after it leaves the bloc. European Council President Donald Tusk said the UK could not pick and choose. The French and German leaders also made clear that the freedom of movement of EU citizens was non-negotiable. Immigration to the UK, particularly from poorer EU countries, was a key issue in the referendum campaign. Some campaigners for Leave sent a clear message that the vote was about controlling immigration levels.

Spain and France oppose Scotland EU talks.

The French president and Spanish prime minister have both said they are opposed to the EU negotiating potential membership for Scotland. Spanish premier Mariano Rajoy said he "believes everyone is extremely against it" and that "if the UK leaves, Scotland leaves". President Francois Hollande of France insisted the EU would make no advance deal with Scotland. Nicola Sturgeon said Mr Rajoy's comments were not surprising. The Scottish first minister has been in Brussels for a series of talks with senior EU officials, after pledging to protect Scotland's interests in Europe following last week's Brexit vote. She said she had received a "sympathetic response" but stressed she did not underestimate the challenges.

Obama warns on global growth after UK vote.

US President Barack Obama has said the UK vote to leave the EU raises "longer-term concerns about global growth". He said Brexit would "freeze the possibilities of investment in Great Britain or in Europe as a whole". He appealed to the UK prime minister and other EU leaders to ensure an orderly process for the British exit. Earlier EU leaders warned that the UK must honour the principle of free movement of people if it wants to retain access to the single market. The leaders of the other 27 EU countries were meeting in Brussels without the UK for the first time in more than 40 years.

Singapore bank UOB suspends London property loans.

Singapore's third largest lender UOB says it has suspended its loan programme for London properties. The decision comes in response to uncertainty caused by the UK's decision to leave the EU, the bank said. The vote on 23 June caused global market turmoil and pushed the pound to 31-year lows. The Singapore dollar has gained about 10% since the referendum. Singaporeans were the top Asian buyers of London property in 2015, according to consultancy Knight Frank. UOB told the BBC in a statement: "We will temporarily stop receiving foreign property loan applications for London properties. As the aftermath of the UK referendum is still unfolding and given the uncertainties, we need to ensure our customers are cautious with their London property investments."

Freedom of movement 'on the table' for forthcoming talks.

Freedom of movement will be "on the table" when the UK negotiates its withdrawal from the EU, French Finance Minister Michel Sapin says. EU leaders have warned Britain that it would have to accept the free movement of EU citizens, if it still wanted to have access to the single market. But Mr Sapin told the BBC's Newsnight that everything - including free movement - was up for discussion. He added that the UK should now leave the EU "as quickly as possible". But he said this was not to punish the UK, as he believed the country would "encounter real difficulties" and there was no need to "amplify" them.

[It’s going to be a hard road ahead. If, that is, parliament actually decide to leave the EU. As far as I know the referendum we’ve just suffered through was advisory only. It’s a vote of MP’s which will decide our fate. How that will turn out with the present chaos is anyone’s guess. It’s not over yet by a long way.]

All details above from BBC News website.