1. Various of trading room of BGC brokerage, traders
2. Michael Ingram being interviewed
3. SOUNDBITE (English) Michael Ingram, market strategist at BGC brokerage:
"A day of high drama, I think we drew back from the outright panic that we had at the open. Of course this was no better illustrated what the roller coaster ride in and around sterling it was trading as high as 1.50 dollar overnight, then when the results started to come in and people thought 'my goodness maybe we are going to vote for a Brexit', we saw this deathly plunge down, at one point 1.31 against the dollar and then as the market opened in London we saw a bit of recovering, recover, traded up to more or less the 1.40 level and now it's ending the day in London about 1.36."
4. Cutaway of traders
5. SOUNDBITE (English) Michael Ingram, market strategist at BGC brokerage:
"The only thing we can be certain about is more uncertainty at this particular point in time. I think over the next couple of days, over the weekend the focus will shift from the market arena to the political arena, obviously it's already had political ramifications, the resignation of David Cameron for instance, we know that Scotland is likely to move actually quite rapidly to a further referendum which is likely to see them leave the UK and of course we started to get the feedback from European leaders feed through, that is going to continue."
7. SOUNDBITE (English) Michael Ingram, market strategist at BGC brokerage:
"I think certainly there is going to be a question mark over the future of London as a financial centre for some time. However I think the disparity in size and capacity and the sort of human resource and supporting infrastructure that the City of London has could not be accommodated in any way by either Frankfurt and Paris. So I think the idea that we're going to see a relatively rapid decampment of the financial community to continental Europe I think is absolutely fanciful and always remember that there is a deep-seated distrust of Anglo-Saxon capitalism, market based capitalism amongst Europeans."
Stock markets and the pound plunged on Friday amid investor concerns about the economic repercussions of Britain's departure from the EU, the world's largest economic bloc, but were calmer at closing time.
Michael Ingram, a market strategist at BGC brokerage said the "outright panic" that set in at the opening of trading subsided somewhat to help the pound sterling recover some of its lost value by closing time.
Britain's FTSE 100 dropped 3.1 percent. At one point it was 8 percent lower. The German DAX index sank 6.8 percent and France's CAC 40 index tumbled 8 percent.
The pound hit its lowest level since 1985 before recovering slightly to trade at 1.3744 US dollars.
That's still far below the 1.4808 US dollars it traded at late Thursday in New York.
Ingram said that Britain's exit from the EU would be a "question mark" over the future of London as a financial centre for some time.
But he said suggestions that it would be taken over by Paris and Frankfurt as main trading hubs were "absolutely fanciful" when compared to London's size, infrastructure and human resources.