[UK Local Election Update] Pollster Thrasher expects Labour to lose around 1.2k seats (vs 2557 defended), vs an initial projection of 1.86k. Pollster Curtice looks for losses of just over 1.2k seats.

The latest local election polling suggests a smaller-than-expected loss for Labour, with projections of about 1.2k seats instead of the earlier estimate of 1.86k. This could imply a stabilization in Labour's electoral support compared to expectations, which may have implications for UK political dynamics and confidence in future governance. Consequently, adjustments in market perception towards UK assets, particularly equities and fixed income, may arise as investors reassess the political landscape's impact on economic policy.