Shock exit poll shows no majority for May

British Prime Minister Theresa May says her Conservative Party will work to provide stability whatever the result of the election.

May's Conservative party was poised to win the snap election on Friday but lose its parliamentary majority, according to a shock exit poll released as polling stations across Britain closed on Thursday evening. Negotiations with European officials had been set to begin on June 19.

The pound plummeted more than 1.5% against the USA dollar and 1% against the euro as the shock figures set the scene for political turmoil at Westminster, disruption to upcoming Brexit negotiations and the possibility of a second election later in the year.

Sterling fell almost two percent against the dollar on the back of the exit poll, as investors questioned who was now going to control the Brexit process.

"It's a disaster for Theresa May", said Iain Begg, a professor of politics at the London School of Economics (LSE).

"Your vote will help secure a stronger economy and a brighter future for Britain", she said, sticking to campaign themes. Politics isn't going back into the box where it was before.

The pound lost more than 2 cents against the dollar within seconds of the exit poll result, plunging from $1.2955 to $1.2752 late Thursday.

Before the exit poll was announced earlier this evening, bookmakers had odds as long as 12-1 for Corbyn to win the election.

In Battersea, a London constituency, a Conservative junior finance minister lost her seat to Labour.

Mr Corbyn said he would not make any coalition deals or pacts but would instead put forward Labour's own programme for government.

It seemed an empty threat when she called the election in April, when her popularity was running high, Labour was plagued by divisions and Corbyn's personal ratings were at rock bottom.

But the campaign shifted to welfare issues, favouring Corbyn, and to May's record on security after terror attacks struck London and Manchester.

British voters punished Theresa May for her electoral gamble by denying her the resounding mandate she wanted to strengthen her hand in Brexit talks, casting doubt over her premiership and raising the prospect of a deadlocked parliament.

British Prime Minister Theresa May has failed to win a parliamentary majority in the United Kingdom election, leaving the country with what's known as a "hung parliament".

The prediction indicates that Britain could be heading for a hung parliament - where there is no overall victor.

May, who took over after last year's Brexit referendum, began the formal two-year process of leaving the European Union on March 29.

She said her priorities remained the same: getting the Brexit deal right and doing what is best for the country.

Despite campaigning against Brexit, Labour has accepted the result but promised to avoid a "hard Brexit", focusing on maintaining economic ties with the bloc. It was a tightly-knit group and she's her group that ran this campaign.

But the vicar's daughter was criticised for a robotic performance on the campaign trail, and will now face serious questions about her decision to call the vote three years early, putting at risk the Conservatives' 17-seat majority.

Campaigning was twice suspended in the aftermath of the attacks, which Ms May blamed on "evil" Islamist ideology.

A suicide bomber blew himself up outside a pop concert in Manchester on May 22, killing 22 people.

Eight people were killed near London Bridge when three men drove a van into pedestrians then stabbed revelers in an area filled with bars and restaurants.

The attacks led to scrutiny over May's time as interior minister from 2010 to 2016, particularly since it emerged that some of the attackers had been known to police and security services.

Later, the BBC revised its predictions to give 322 seats to the Conservatives, which may be just enough to have a "working majority", as a small number of MPs do not vote.

The exit polls also mark an unexpected rise for Corbyn, who has hung on as Labour leader through several attempts from senior members of his party to oust him.

At that point, one of the leaders would have to show they could form a minority government that had the support of other parties.