Swedish prime minister resigns after election loss

Fredrik Reinfeldt will also step down as eader of the conservative Moderate Party next year

Swedish Prime Minister Fredrik Reinfeldt says he will resign after his center-right coalition lost a parliamentary election to a left-leaning opposition led by the Social Democrats.

Reinfeldt told supporters in Stockholm late yesterday that he will also step down as leader of the conservative Moderate Party next year.

With more than 90% of precincts counted, official preliminary results give the bloc headed by Social Democratic leader Stefan Lofven 43.7% of the votes, compared to 39.4% for Reinfeldt's coalition, which has been in power for the past eight years.