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 Sunday that he will also step down as leader of the conservative Moderate Party next year.

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