Ex-adviser to Tony Blair John McTernan, who's been a consistent critic of Jeremy Corbyn, tells BBC Radio 4's Today programme: "We do have to win elections, rather than lose them better than we lost the last one."

Here's a look back at some of the key David Dimbleby moments from last night.

This was his 10th general election that he covered for the BBC - having originally said the 2015 show would be his last.

So as he signed off this morning, will that be the last time we see Dimbleby's familiar face bringing us the results? With the hung parliament, and things far from certain, it looks like we'll just have to wait and see.

The BBC's political editor tweets:

"We've been through the most fascinating night, to tell the truth" says David Dimbleby as he prepares to take a well-earned break, having been hosting the election coverage overnight

He went on to add that there's been a return to a binary, two-party system.

"Theresa May must be under extreme pressure", having called the election to guarantee certainty and stability for years ahead, he added.

BBC Radio 5 live

Conservative MP Nigel Evans says the election result has been an "absolute disaster" for the Conservatives, claiming the campaign was "hijacked by [his] own party".

Evans, who retained his seat in the Ribble Valley, said the Conservative party "did a full-frontal assault on our core voters - the elderly."

He told BBC Radio 5 live's Nicky Campbell:“We didn’t shoot ourselves in the foot, we shot ourselves in the head."

Victoria Derbyshire

In a series of Tweets, external, the BBC's Victoria Derbyshire describes explaining a hung parliament to a 10-year-old: "Joe, imagine you're the captain of the basketball team...

"You say, 'I want to be captain of the basketball team'. Your team says, 'But you're already captain of the basketball team.

"Yes but not enough of you voted for me,' says Joe.

"So you have a 'captaincy vote' & fewer of your team mates vote for you than originally. But you're still captain."

Dominic O'Connell
Business Presenter, BBC Radio 4 Today programme

Image source, Getty Images

Traders expect the FTSE 100 to open up this morning, but warn that some stocks exposed to the UK economy may come under pressure early on.

London’s top index - which accounts for 80% of the value of the entire market - is made up largely of multinationals which benefit from a fall in the value of the pound.

A slightly weaker pound should give the FTSE 100 a boost - future trades indicate it could open up a fraction - although it is already trading at near an all-time high.

Companies exposed to the UK consumer - and which might be judged likely to be affected by the election result as consumers retrench and business spending is paused - are the big domestic banks, Lloyds, TSB, Virgin Money and Royal Bank of Scotland, and the big retailers, Tesco, J Sainsbury and Marks and Spencer.

Today Programme
BBC Radio 4

Conservative MP Anna Soubry has described the election results as "dreadful" and a "disaster", questioning whether Theresa May should remain as leader.

"She has to consider whether she will remain as our prime minister and leader of the party because this has been a disaster. The results are dreadful," said Ms Soubry, who was re-elected in Broxtowe.

Today Programme
BBC Radio 4

The co-leader of the Green Party has called Theresa May's election campaign insulting and arrogant. Caroline Lucas said she hoped progressives would now work together to challenge a "brutal" Brexit.

Simon Jack
BBC Business Editor

Image source, Reuters

Once again, British politics has bamboozled international markets. The pound fell sharply as exit polls were released last night showing market expectations of a solid majority for Theresa May were confounded. A hung parliament creates the kind of political uncertainty markets generally hate.

The pound then halted its slide as traders began to think that the chances of a softer version of Brexit than the one promised by Theresa May now looked more likely. Remember the pound plunged in value after the referendum result as investors worried that Brexit would inflict an economic shock on the UK – the harder the Brexit the bigger the shock.

But with negotiations due to start in 10 days, and the Brexit clock ticking away, markets may yet decide the risks of a disorganised and potentially chaotic Brexit have risen. Less WTO – more WTF.

There is much head-scratching on the trading floor where I am this morning.

But one thing traders do understand is a bet. It is clear that the political gamble of calling this snap election to cement Mrs May's authority has not paid off.

Today Programme
BBC Radio 4

The head of the Confederation of British Industry, Carolyn Fairbairn says businesses will be stunned by the UK general election result, and the country will need to signal it is open to business.

"We need to be signalling strongly that we are pro-enterprise and open to business", she said.

Conservative Zac Goldsmith takes back Richmond Park after losing the seat in a by-election to the Lib Dems, at which he stood as an independent.