Image source, PA

In response to George Osborne's speech this morning, the British Chambers of Commerce has been broadly positive: "Businesses across Britain want a steady stream of communication from the government and the Bank of England, with stability, clarity and action the watch-words for firms. 

"So far, the priority for the Chancellor and the Governor has rightly been the question of stability, as markets and firms digest the electorate’s decision."

But it adds:

"The big decisions – on airports, energy generation, HS2, housebuilding and more – need to be followed through. The decision to delay a post-referendum budget must not be a convenient excuse for ministers to duck these important choices. Action and momentum over the coming months are vital to stoking the embers of business confidence."

Today Programme
BBC Radio 4

One of the big questions emerging for the Brexit talks is, will the UK be able to retain access to the single market? 

"Yes, but this is not for free," says Michael Fuchs, vice chairman of Angela Merkel's CDU party in Germany.

Nothing is for free, sorry that's the world, he says.

"Everything has to be negotiated," and Germany shouldn't have to wait until there's a new prime minister because the waiting is bad for businesses.

"Maybe Cameron has to do something. He cannot just sit in Number 10 and let other people think what's going to happen," Mr Fuchs says.

"It's not our mistake to vote for Brexit, it's theirs."

BBC Breakfast

Chris Grayling, leader of the House of Commons and Leave campaigner, says the country is not going to suddenly become an inward facing nation with fences up, or xenophobic.

This is about who governs us; that's the difference, he says.

"We need to leave in the right way."

Asked about whether there will be a place for George Osborne, he says there is absolutely a place for Mr Osborne in the government. "I expect him to be in a senior position. I expect there to be relatively little change in government."

London's main share index has opened lower on Monday. In the first few minutes of trade it was down 0.7%, or 42 points, at 6,095.

Company reactions to the vote are coming through thick and fast. The insurance company Aviva has also issued a statement, external on the impact of the EU vote.

It says "it will have no significant operational impact on the company".

But the company added it would "continue to monitor the technical implications of the vote to leave, which will only be resolved after several years of negotiating a new relationship between the UK and the EU".

Image source, PA

The airline Easyjet has updated the market, external on its profit outlook, describing the environment as "extremely challenging".

It has seen 1,061 cancellations in the third quarter due to various disruptive events - such as a strike in France and congestion issues in Gatwick.

The airline expects the amount of money it makes per sale of a seat to fall by 8.6% in the third quarter and that pretax profit will be hit by £28m.

On Brexit it adds: "Following the outcome of the EU Referendum, we also anticipate that additional economic and consumer uncertainty is likely this summer."

Image source, Getty Images

Back to the markets, and some companies are warning on the impact from Brexit. 

The estate agents Foxtons - who do most of their business in London and the South-East - have issued a profit warning as a result of the EU referendum.

It said Thursday's vote had already led to "significant uncertainty" across London's residential warning.

"Whilst it is too early to accurately predict how the London property sales market will respond, the upturn we were expecting during the second half of this year is now unlikely to materialise," it said.

The chancellor concludes his statement by stressing that the UK is "well-placed" to meet the "economic adjustment" that he predicts is coming but he says, "our message is clear - Britain is open for business".

The UK has "dealt with the immediate challenge of an unexpected vote as far as financial markets are concerned", Mr Osborne says.

Mr Osborne says the EU result will have an impact on public finances but that it is sensible to wait for the Office for Budget Responsibility (OBR) to assess the economy in the autumn.

Asked by journalists whether he is planning to hold an Emergency Budget, as he said during the campaign, he says given the decision to delay triggering Article 50, it was sensible to wait for the new prime minister to be in place before a course of action is determined.

George Osborne says he will be part of the debate about the UK's future trading relationships.

"I do not want the UK to turn its back on Europe or the rest of the world," he says.

"Britain is an open and tolerant country and I will fight with everything I have to keep it so."

He will address his role in the Conservative party in the "coming days", he adds.

George Osborne says only the UK can trigger Article 50 - the clause that starts two years of negotiations with the EU about a withdrawal.

In my judgement, we should only do that when there's a clear view of the arrangement we are seeking with our European neighbours, he says.

"Britain's economy is going to have to adjust to the new situation it finds itself in," the chancellor says.

The markets may not have been expecting the referendum result, but the Treasury, Bank of England and Financial Conduct Authority put in place "robust contingency plans" over the past couple of months, he says. 

I said we should fix the roof while the sun shined, and thank goodness we did, George Osborne says.

He's started by reminding people of the UK's robust growth.

The legendary investor George Soros, known in the UK for making £1bn profit on Black Wednesday when the the UK crashed out of the Exchange Rate Mechanism, says he did not speculate against the pound while he was arguing to remain in the EU.

However, Reuters news agency quotes his spokesman as saying that because he was generally bearish (i.e. negative) on global markets he did profit from other investments.