What do the results from UK election mean for Brexit

With the counting for the U.K. General Election still ongoing, analysts are contemplating what the result means for Brexit negotiations, as Prime Minister Theresa May appeared in danger of losing her parliamentary majority.

The Conservative leader called a snap election to strengthen her parliamentary majority and have more power and freedom to negotiate Britain's exit from the European Union.

However, the projected results — which are still not confirmed — and the possibility of a hung parliament could make talks with Brussels "more complicated," according to Guntram Wolff, director of the Brussels-based Bruegel think tank.

According to the BBC, projections indicate the Conservatives will win 318 seats, falling short of the 326 needed for a parliamentary majority.

Karel Lannoo, the chief executive officer of the Centre for European Policy Studies think tank, agreed. "A small majority will not help. This means a lot of infighting will go in the Tories (Conservatives) and this will not be helpful for the EU either, as no clear position will emerge."

A senior EU official told CNBC at the end of May, when polls were projecting a stronger presence in parliament for the Conservatives, that "the election will certainly help (Brexit talks)."

Meanwhile, John Hardy, head of forex strategy at Saxo Bank, told CNBC via email that the outcome of the British vote will have a little impact on Brexit, given that the European Union will not change its stance on the negotiations.

The small Conservative win coupled with the possibility of a hung parliament sank the pound in the early hours of Friday. The currency dropped about 1.7 percent against the dollar to $1.2738.

Source: Bloomberg Pro Terminal

Jr Trader Ivan Ivanov

Read more:

• And for all the bounty hunters: Iran offers $80m for the head of Donald Trump
• US service member and 2 US Defense Dept contractors killed in Kenya attack
• Iranian Quds leader Qasem Soleimani has been killed – how are markets reacting
• A calm end of an otherwise loud 2019
• Old but Gold – Top 5 posts of Varchev Finance