World reacts as Jo Johnson resigns from Theresa May's government

"The referendum in 2016 was the biggest democratic exercise in this country's history. We will not under any circumstances have a second referendum. The Prime Minister thanks Jo Johnson for his work in government," May's spokesperson.

Jo Johnson, the younger brother of Boris, resigned from Prime Minister Theresa May's government on Friday, calling for another referendum to avoid the vassalage or chaos that he said her Brexit plans would unleash.

Below is the reaction:

SPOKESMAN FOR PRIME MINISTER THERESA MAY

"The referendum in 2016 was the biggest democratic exercise in this country's history. We will not under any circumstances have a second referendum. The Prime Minister thanks Jo Johnson for his work in government."

BORIS JOHNSON, BROTHER OF JO AND FORMER FOREIGN SECRETARY

"Boundless admiration as ever for my brother Jo. We may not have agreed about Brexit but we are united in dismay at the intellectually and politically indefensible of the UK position."

"This is not taking back control. It is a surrender of control. It does not remotely correspond to the mandate of the people in June 2016." -------------------------------------------------------------

MARKET REACTION

- The pound fell to a day's low beneath $1.30 on the news.

- It also fell against the euro to a session low of 87.3 pence

- The 10-year gilt yield fell to its lowest level since Monday at 1.492 per cent, down 7.5 basis points on the day.

(With inputs from agencies.)