Will Brexit threaten London's long-booming economy? The British capital fears investors and bankers could flee the city after the shock nationwide vote, threatening its coveted reputation as a global financial hub.

Stock markets in the energy-rich Gulf states dropped Sunday in the first trading session after Britain voted to leave the European Union.

Panama is preparing to officially open its canal this weekend to far bigger cargo ships after nearly a decade of expansion work aimed at boosting transit revenues and global trade.

On Sunday, a VIP ceremony will be held on the banks of the canal to inaugurate the completion of the works.

Spain, which goes to the polls on Sunday in a repeat general election, is the eurozone's fourth largest economy and one of the fastest-growing nations in Western Europe, although it suffers from high unemployment and debt.

GROWTH

Britain's decision to quit the world's largest single market presents China with a golden opportunity to seek better business terms with a more isolated UK, analysts said Friday, pointing out that London has not had its own trade negotiators for 40 years.

IMF chief Christine Lagarde called on Britain and Europe on Friday to work together to ensure that Britain's pullout from the European Union will take place smoothly.

"We urge the authorities in the UK and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the UK and the EU, including by clarifying the procedures and broad objectives that will guide the process," Lagarde said.

Gold prices surged Friday to the highest level in more than two years following Britain's shock decision to leave the European Union.

Switzerland's central bank said Friday it had "intervened" in the foreign exchange market to stabilise the Swiss franc, considered a safe haven currency, following the so-called Brexit vote.

World oil prices plunged more than 6.0 percent in Asia Friday after Britain voted to bolt out of the European Union, sending markets into a tailspin and fueling fears of another global rout.

Crude tumbled sharply as results showed those wanting to exit the bloc were likely to win, fanning worries about the impact on demand as investors fled for safe investments.

The pound collapsed and world stock markets descended into pandemonium Friday after Britain voted to leave the European Union, fueling a wave of global uncertainty.

Sterling hit a 31-year low, crashing 10 percent to $1.3229 at one point, and the euro also plummeted against the US currency as the Brexit result caught markets by surprise.