Four more years - Barack Obama re-elected as US President

His victory in the US Presidential election was confirmed shorty before 6am when Republican challenger Mitt Romney rang him to concede defeat.

By 10am 51-year-old Obama had won 303 votes in the US electoral college – 97 more than his rival and well past the 270 needed to claim victory.

He claimed victory in a tweet which simply declared 'four more years' and was accompanied by a picture of him hugging wife Michelle.

The tweet quickly became the most popular in Twitter's six-year history and had been re-tweeted 642,569 times just 10 hours later.

The re-elected president, the 44th in America's history, paid tribute to Mr Romney as he thanked his supporters in a 7am victory speech in his former home city of Chicago.

He told the crowd, who chanted 'four more years' as he arrived on stage, that they had 'lifted me up the whole way and I will always be grateful'.

President Obama vowed to revive America's economy but warned 'progress will come in fits and starts'. In a speech lasting almost 25 minutes, Obama insisted he had hope for the future but admitted there was 'more work to do'.

"In this election, you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up. We have fought our way back.

"We know in our hearts that for the United States of America the best is yet to come."

The president said his supporters 'voted for action, not business as usual' as he vowed to reduce the deficit, reform taxation and fix the immigration system.

He added: "Tonight, despite all the hardship we have been through, despite all the frustrations of Washington, I have never been more hopeful about our future, I have never been more hopeful about America.

"Tonight, more than 200 years after a former colony won the right to determine its own destiny, the task of perfecting our union moves forward. It moves forward because of you, it moves forward because you reaffirmed the spirit that has triumphed over war and oppression, the spirit that has lifted this country from the depths of despair to the great heights of hope."

Mr Romney, 65, earlier conceded defeat, phoning the president to congratulate him.

He told his supporters he and running mate Paul Ryan had 'given our all' to the campaign and said he wished his Democrat opponent well.

The businessman urged his supporters to pray for the re-elected president.

He added: "I wish that I had been able to fulfil your hopes to lead the country in a different direction but the nation chose another leader."

Prime Minister David Cameron tweeted his congratulations to President Obama this morning.

Although Mr Obama's victory appeared comfortable due to the electoral college system, he won just one per cent more of the popular vote than Mr Romney.

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