Search ForexCrunch

With the UK local elections out of the way, the early results show both the UK PM Theresa May’s Conservatives and Opposition Labour Party have lost support due to the failure to reach a Brexit agreement and the eventual delay.

According to one analysis, the Conservatives were forecast to lose 1000 seats.

Robert Hayward, a polling specialist and former Conservative lawmaker, said he expected the Conservatives to lose more than 800 seats, Labour to gain fewer than 300 and the Lib Dems to pick up more than 500, Reuters reports.

More than 8,000 seats on English councils – administrative bodies responsible for day-to-day decisions on local policy from education to waste management were open for polls that closed on Thursday at 2100 GMT.