World
Prime Minister David Cameron won a shock election victory in Britain, overturning predictions that the vote would be the closest in decades to sweep into office for another five years, with his Labour opponents in tatters, reports Reuters.
The sterling currency, bonds and shares surged on a result that reversed expectations of an inconclusive "hung parliament" with Cameron jockeying for power with Labour rival Ed Miliband.
Instead, Cameron was due to meet Queen Elizabeth before noon to accept a swift mandate to form a government.
"This is the sweetest victory of all," he told enthusiastic supporters at party headquarters. "The real reason to celebrate tonight, the real reason to be proud, the real reason to be excited is we are going to get the opportunity to serve our country again."
But despite the unexpectedly decisive outcome, more uncertainty looms over whether Britain will stay in the European Union - and even hold together as a country.
The Conservatives made gains in England and Wales and are forecast by the BBC to secure 331 seats in the Commons, giving them a slender majority.
Sources say Ed Miliband is expected to stand down after Labour was all but wiped out by the SNP in Scotland. Lib Dem leader Nick Clegg has already said he will quit, with his party set to be reduced from 57 to eight MPs. UKIP leader Nigel Farage is also quitting after he failed to win Thanet South, losing by nearly 2,800 votes to the Conservatives.
