Despite Prime Minister Theresa May’s embarrassing performance earlier this month in a snap election that cost her Conservative party its parliamentary 'majority', more than 70% of Britons still believe the government should push ahead with Brexit – even after the election sparked exclamations from the left for a second referendum, according to the latest YouGov poll.
In the aftermath of the stunning loss by Theresa May's Conservative party in the UK General Elections, bookmakers quickly made Labour's Jeremy Corbin the odds-on favorite to become the UK's next Prime Minister, implying May would resign shortly. That contingency, however, got a last minute reprieve when May announced on Friday she would seek to form a minority government with the help of a small Northern Irish party, the far-right Democratic Unionist Party (DUP), extending her political career if only for the immediate future.
It was supposed be a UK general election that solidified Conservative dominance, and boosted Brexit leverage. It ended up being the opposite, after British voters delivered a stinging rebuke to Prime Minister Theresa May and her ruling Conservative party, depriving her of a majority, resulting in a "hung parliament" and thrusting the country back into a new period of uncertainty as it prepares to depart from the European Union.
A quick recap of what happened overnight:
All you need to know about tomorrow's general election in the UK, broken down into several parts.
From RanSquawk, Deutsche Bank, Lloyds, and WSJ
Why has a Snap Election been called?
It has been another quiet session for global equity markets, with S&P futures flat, as are European and Asian stocks, which is perhaps odd, as there was quite a bit of newsflow and, in the case of China, outright fireworks.