11.00 Missouri and North Carolina are the only states still counting – both are expected soon. Indiana finally succumbed to the Democratic tide and handed its 11 electoral votes to President-elect Obama. The first time the state has turned blue since 1964.

08.00 Montana has given its three electoral votes to John McCain while Missouri, North Carolina and Indiana remain on a knife edge - though it's looking increasingly likely that the latter will fall to Barack Obama, in keeping with the night's overall tenor.

07.45: No surprises in Alaska as the state stays loyal to its conservative roots - and to Governor Sarah Palin. Recently disgraced Senator Ted Stevens is currently on course for reelection - though his criminal convictions will prevent him from occupying the seat. Among other Senate races, the Minnesota contest between Republican incumbent Norm Coleman and liberal comedian Al Franken remains one of the tightest, with the pair locked in a dead heat with 90 per cent of precincts reporting.

07.00: The tumult of the past few hours has given way to a reflective calm as the torrent of results slows to a trickle. Five states - Alaska, Montana, North Carolina, Indiana and Missouri - are still to be called, with the races in the latter three going down to the wire as returns from 95 per cent of precincts fail to separate the two candidates. While the results can now only be a footnote in the tale of this extraordinary night, victories in the southern battlegrounds of North Carolina and Indiana, both instinctively conservative, would be a welcome boost to President Obama's mandate, as would the usually deep red state of Montana. An upset in Alaska remains unimaginable but Missouri, a true swing state, could easily go either way. Having backed the winner in every White House race bar one since 1904, will its much touted accuracy as a bellwether still hold this year?

05.00: John McCain offered a gracious concession speech as it became clear that he was not going to become the next president. As the Arizona senator spoke, Florida was declared for Barack Obama, giving the president-elect a hefty margin of victory in the electoral college with 330 votes to 155 and eight states still to be called.

President Bush also offered his congratulations to Mr Obama. White House spokeswoman Dana Perino said Mr Bush had telephoned the Democrat, saying: You are about to go on one of the great journeys of life. Congratulations and go enjoy yourself."

04.14: Florida remains too close to call but with Mr Obama's tally now at 293 to Mr McCain's 142, the state's 27 electoral votes that were so crucial in 2000 and 2004 are an afterthought in an extraordinary night that has seen the Democrat cut off his Republican rival at every turn.

04.00: Barack Obama has been elected the first African-American President of the United States, according to a CNN projection.

Euphoric celebrations broke out at the Democrat's rally in Chicago as projected Democratic victories in California, Oregon and Washington pushed him beyond the 270 electoral votes needed to take the White House.

John McCain is expected to address supporters in Arizona shortly.

03.47: Barack Obama stands on the brink of a historic presidential victory following a projected victory in the crucial battleground state of Virginia.

Even before his success in what has long been a Republican stronghold, senior advisors to his rival John McCain told CNN they did not see any path to victory given the results so far.

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