Ed Miliband has stepped down as Labour leader while his closest political ally and the architect of his economic policy, Ed Balls, lost his seat and the party was decimated in Scotland, where it lost all but one of its MPs to the Scottish National Party (SNP).

Nick Clegg resigned as leader of the Liberal Democrats after seeing the party lose all but eight of its seats, including losses for major figures such as Danny Alexander and Vince Cable. Meanwhile, Nigel Farage resigned as the head of Ukip after failing to win in South Thanet.

Following the eventful morning after the election, business and politics journalist Maggie Pagano talks to Edmund Shing, global equity portfolio manager at BCS Asset Management, and Stefan Stern, a business and politics journalist and visiting professor at Cass Business School, about the implications the results will have on the markets, the union with Scotland and the UK's EU membership.