First Minister Carwyn Jones says he is disappointed by the Brexit vote, but says Wales must now unite and rise to the challenges it faces.

In a statement, Plaid Cymru leader Leanne Wood, said:

“The top priority now must be to secure political and economic stability for Wales and the rest of the United Kingdom.

“With Scotland voting to remain and a second independence referendum now on the cards, it is clear that the UK cannot continue in its current form. Wales, its economy and its communities will soon be at the full mercy of the Westminster elite and robust action must be taken to mitigate the impact of this.

“All the promises made by the Leave campaign, with regards to safeguarding grants and financial support for Wales and our NHS must now be fully honoured, not only up to 2020 under current EU programmes, but beyond that into the future.

“Plaid Cymru will work to ensure that every penny and every key power that is handed down directly from Brussels comes to Wales."

Tata Steel says it remains committed to the sales process of its British plants.

A spokesman said: "Decisions by the UK electorate will always be respected by Tata Steel. 

"Whatever the political framework, we are committed to developing the best prospects possible for our UK operations."  

Image source, Getty Images

The leader of the Welsh Conservatives, Andrew RT Davies, has paid tribute to Prime Minister David Cameron after he announced his resignation.

Mr Davies said the PM had been “dignified to the very end,” and that his “family have given so much to our country in public service”.

“David Cameron has been the dominant figure in British politics over the past decade and he's empowered millions across the country."

Mr Jones says the Welsh Government has six key priorities going forward:

• To protect Welsh jobs
• For the Welsh Government to play a full part in discussions about the timing and terms of UK withdrawal from the EU. 
• For the UK to negotiate to retain access to the 500 million customers in the single market and that free movement of people is retained.
• Continued participation, on current terms, should be continued in major EU programmes such as CAP funds for farming and Structural Funds for poorer areas up until the end of 2020. 
• Major and immediate revision of the Barnett Formula taking into account needs arising from EU withdrawal - and a promise made that Wales will not lose a penny. 
• The relationship between devolved administrations and the UK government to be placed onto an entirely different footing.     

First Minister Carwyn Jones has spoken for the first time since the Leave result was announced.

He said: "I am deeply disappointed with the result. 

"This was a referendum I was never convinced we should have - not because I object to the democratic decision taken today - but because of its timing so soon after elections and I always feared that the debate would never really be about the EU."

He said his urgent priority now was to protect the interests of Wales, including securing jobs and playing a key part in the negotiations in the timing and terms of a UK withdrawal from the EU.

"It is too early for anyone to fully analyse why the country voted the way it did last night - but one thing is obvious. 

"Areas of Wales and England that contain post-industrial communities, often deprived communities, voted out - even though they had often benefited massively from European funding.

"Even though those communities voted for parties in May who supported a Remain vote. 

"Too many people in these communities feel that politics, and our economy, has left them behind, and we have a real task ahead to undo that sense of alienation."    

The speculation begins...

Airbus, a major employer which makes aircraft wings at its factory in Broughton, Flintshire has said:

"We respect the decision taken by the British people, which should be seen as a wake-up call for Europe and as a catalyst for change. 

"We will work constructively with the UK Government to minimise any impact on our operations. 

"While we are disappointed, clearly we will continue to support our workforce and operate our UK facilities.

"We will study the longer term consequences of this decision on the competitive environment."

Image source, Airbus PR

Reacting to the referendum result, Mick Antoniw, Labour AM for Pontypridd, who campaigned for a Remain vote said: "The people have spoken and we must respect their decision and ensure that Labour rises to the challenge of addressing people's concerns in a progressive way. 

"In the immediate future, we must hold Tory leave campaigners to their word: to end austerity and release funding for public services." 

Image source, Labour

Speaking in Downing Street, David Cameron said: "We must now prepare for a negotiation with the European Union - this will need to involve the full engagement of the Scottish, Welsh and Northern Ireland governments to ensure that the interests of all parts of our United Kingdom are protected and advanced."

The prime minister will have to decide when to trigger Article 50 of the Lisbon Treaty, which would give the UK two years to negotiate its withdrawal.

Once Article 50 has been triggered a country can not rejoin without the consent of all member states.

The UK has voted to leave the EU - a process that has come to be known as Brexit. 

Here is what is likely to happen next.

Image source, Rebecca Naden / Reuters

Former BBC Political Editor's take on the PM's statement

BBC Wales Arts & Media Correspondent Huw Thomas said the decision to leave the EU "surely scuppers" Cardiff's bid to be the European Capital of Culture 2023.