How it happened: Conservatives win overall majority

The U.K.'s Conservative party won a decisive victory in the U.K. elections, securing more parliamentary seats than expected. The Scottish National Party (SNP) has also made headlines after winning the vast majority of Scottish seats.

Sterling rose against the dollar Friday and the FTSE 100 climbed, amid confirmation that a hung parliament - and subsequent uncertainty - has been avoided.

CNBC followed all the developments as the results came in (mobile users click here):