Following the results from the UK’s general elections, (still) PM Theresa May will give a speech at 9GMT.
May has recently reiterated she will not resign despite Conservatives’ performance at the elections, although plenty of doubts are set to emerge regarding her leadership and ability to carry on with the Brexit negotiations (which were initially scheduled to start later in the month).
At the moment, Conservatives keep 316 seats, Labour 261, the SNP 35 and Liberal Democrats 12.
Key notes
UK election: Conservatives fall short of majority, May's political gamble backfires
Against all odds, and is becoming a familiar pattern in major political events, a catastrophic and unexpected outcome for UK PM Theresa May's Conservatives has materialized.
UK: Another election looming? – ING
Analysts at ING suggest that there are two reasons why another vote could occur: either if neither major party can reach an agreement with smaller parties, or if a newly formed government proves to be too fragile.
GBP: Worst-case outcome adds to Brexit risk premium – Danske Bank
The UK election outcome looks close to the worst possible for sterling – if any winner, it may be regarded the EU according to the analysts at Danske Bank.
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