from ZeroHedge:

In a somewhat shocking shift, Jeremy Corbyn is now the favorite at the bookies to become the next Prime Minister (despite the fact that Tories will likely remain the majority party – unless this is an absolute disaster)

Is this a premature call? Or is the market coming around to the idea that Theresa May and the Conservatives have got this horribly wrong?

BBC and ITV Forecast a hung parliament

It suggests the Conservatives will do slightly better than the exit poll predicted – but will still be just short of an overall majority.

Conservatives: 322 (4 short of majority, down 9 from 2015)

Labour: 261 (up 19 from 2015)

SNP: 32 (down 24 from 2015)

Lib Dem: 13 (up 5 from 2015)

UKIP: 0 (down 1 from 2015)

The election has already seen some big names lose…

Former Lib Dem Leader and former deputy PM Nick Clegg lost his Sheffield Hallam seat to Labour’s Jared O’Mara

Treasury minister Jane Ellison lost her Battersea seat to Labour’s Marsha De Cordova, on a 10% swing from the Tories to Labour

SNP leader in Westminster, Angus Robertson lost his seat to the Conservatives; Douglas Ross, who won 48% of the vote

UKIP’s Leader Paul Nuttal came 3rd in his district

ITV’s political editor Robert Peston has summed up some important conclusions. The below is all from his Twitter account:

1) the left’s grip on Labour now unshakeable, and Blairism totally dead (as I mentioned on Wednesday)

2) we are witnessing the starkest generational split at ballot box for years, with young backing Labour and old the Tories

3) @theresa_may very seriously wounded – and her rivals, such as @BorisJohnson, will be weeping crocodile tears

4) we are back to traditional right-versus-politics of a sort we haven’t seen for more than 25 years

5) we are entering a period of chronic political instability, and another general election in the autumn looks almost inevitable

6) sterling and stock market will be under serious downward pressure in the morning

7) goodness only knows what this means either for the timetable for Brexit or the nature of Brexit

8) what I worry about, more than anything else, is that our nation will be revealed as more divided that at any time since the 1980s

Former UKIP leader Nigel Farage said Brexit “is in some trouble” if Jeremy Corbyn forms a coalition and he will “have absolutely no choice” but to come back into British politics

Read More @ ZeroHedge.com