AKIPRESS.COM - The Conservatives are set to be the largest party in the UK parliament, but may not have an overall majority, says the latest BBCforecast.

Forecasts suggest a swing to the Labour Party in Thursday's general election.

This would be a humiliation for Prime Minister Theresa May, who chose to call the election to try to strengthen her hand in talks with the EU on Brexit.

Labour leader Jeremy Corbyn urged her to resign, but she said her party would "ensure" stability in the UK.

"At this time more than anything else, this country needs a period of stability," Mrs May said.

"And if, as the indications have shown and if this is correct that the Conservative Party has won the most seats and probably the most votes, then it will be incumbent on us to ensure we have that period of stability - and that is exactly what we will do."

Mr Corbyn earlier said: "If there is a message from tonight's results, it's this: the prime minister called this election because she wanted a mandate. Well, the mandate she's got is lost Conservative seats, lost votes, lost support and lost confidence."

"I would have thought that's enough to go, and make way for a government that will be truly representative of all of the people of this country," he added.

The pound fell sharply in value after the exit poll was published. It is too early to say whether it is accurate.

Final election results are expected by Friday lunchtime.

The biggest shock of the night so far has been the Liberal Democrat MP Nick Clegg losing his seat to a Labour candidate.

He was deputy prime minister of the UK from 2010 to 2015 in a coalition government with the Conservatives.