UK Conservative Party (the opposition) expects PM Starmer to win the vote regarding a referral to the Privileges Committee, Bloomberg's Wickham reports; looking to use it as an opportunity to target Labour MPs in the upcoming May 7th local elections

This report indicates that the Conservative Party is leveraging the anticipated referral of PM Starmer to the Privileges Committee to strategically target Labour MPs ahead of the May 7th local elections. Such political maneuvers could influence market sentiment, particularly in GBP and UK assets, as traders assess the implications for Labour's position and the broader electoral landscape.