GETTY The FTSE has made a recovery to end the week better then it started after a Brexit slump

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The index of the top 100 companies in the country fell by as much as seven per cent soon after the stock exchange opened yesterday.



The uncertainty surrounding the Brexit news at one point wiped more than £140bllion off the FTSE 100 - but as the day progressed markets rallied.By closed of play the FTSE 100 closed down on the day 2.7 per cent - however, that was still an IMPROVEMENT on how the week began.



The FTSE-100 opened on Monday June 20 at 6,021.09 - and closed on Friday at a better level of 6,162.97.



As traders looked for bargains amid the chaos the markets improved.By mid-afternoon, the index had staged a partial recovery to sit at around 6,186 - down around two per cent from yesterday's close of 6,338.



At one point at the opening, the FTSE 100 had lost more than 500 points to reach lows of 5,788.

The London Stock Exchange The FTSE 100 lost billions in value this morning before a recovery

Bank and homebuilder stocks were among the hardest hit, but miners were up alongside the increase in gold prices. Bank of England Governor Mark Carney moved to calm markets this morning and said the institution was ready to inject up to £250billion to keep markets functioning. Europe's top stock markets were also nursing heavy losses with Germany's Dax down by more than six per cent, France's CAC down by seven per cent and Spain's IBEX was down by a massive 10 per cent. Wall Street also became caught up in the mayhem, with US markets down by around at two per cent. Connor Campbell, financial analyst at platform SpreadEx.com, said: "A decent strand of buyers swept in when the UK index hit its earlier lows, helping to lift it back above 6,200 despite a continued battering for its Barclays/RBS/Lloyds banking trio.



"The liquidity support promised by the Bank of England (and subsequently the ECB and Federal Reserve) appears to have been the main catalyst for the turnaround, especially given the fact that the afternoon was still littered with worrying news - namely the likelihood of a second independence referendum in Scotland."

The pound has fallen by up to 12 per cent overnight to reach its lowest level since 1985. Prices of safe have assets such as gold and the dollar have been sent soaring as investors run for cover. However, smaller investors have been now urged not to panic as markets should calm down as the result is digested. Michelle McGrade, chief investment officer, TD Direct Investing said yesterday: "The biggest impact of today’s decision will be on sterling and markets will be sent into shock. "This will trigger more volatility because markets don’t like uncertainty. "I urge investors not to panic by the initial shock and focus on the longer term because it’s never been right to sell at bottom of markets. "The world isn’t ending, it's changing with new challenges and opportunities – let’s today not forget the opportunities. "Markets are forward looking, the dust will settle and investor confidence will return."

Banks this morning came out to say they respected the decision of the British public and have plans in place for leaving the European Union. Barclays chief executive Jes Staley said: "This is a significant decision and there will be many questions asked in the coming days and weeks about what happens next. "The answers are complex but our position is not: we will not break our stride in delivering the Barclays of the future.

"The answers are complex but our position is not: we will not break our stride in delivering the Barclays of the future. "We have stood in service of our customers and clients for over 325 years. "We have been here for them through equally profound changes before. And no matter what has been laid before us, we have been here to help them achieve their ambitions."