Conservatives on a roll in UK local voting

LONDON - The United Kingdom's governing Conservative Party made strong gains in local elections on Friday, suggesting Prime Minister Theresa May's strategy to leave the European Union is winning over voters who should hand her an easy victory in a parliamentary election on June 8.

Early results in the polls, which voters often use as an opportunity to protest against the ruling party, showed May's Conservatives had gained more than 100 council seats and secured victory for their candidate as mayor for the West of England.

The main opposition Labour Party lost control of councils in Wales, but the biggest losses were sustained by the anti-EU UK Independence Party, which has struggled to find new footing since the vote to leave the European Union last June.

By calling an early national election for next month, May has made the local votes a gauge of her leadership, and many of her Conservative candidates have campaigned in recent days using her campaign mantra of "strong and stable leadership".

But turnout was low and the Conservatives were careful not to overplay their expected victory next month, which could reshape the British political landscape for years to come.

"They are encouraging results, but I am cautious about predicating the general election on them," Defense Minister Michael Fallon said.

The opposition Labour Party also played down its losses, with finance spokesman John McDonnell saying that despite it being "tough ... it hasn't been the wipeout that some people and some polls predicted".

The early results indicated May's Conservatives took votes from both Labour and UKIP, signaling that her bid to position her party in the political center and take a strong stance on Brexit might be paying dividends.

Opinion polls give May a runaway lead in the national election on June 8 of around 20 percentage points, which could hand her more than 100 more seats in Parliament.

Meanwhile, the EU said on Thursday it is preparing new regulations that could force a key financial market and potentially thousands of jobs to move away from London once Britain leaves the bloc.

The EU's executive Commission said it will present next month new rules on the oversight of this market, the so-called clearing of euro-denominated trades.