Theresa May prepares to step down as Tory leader

UK Prime Minister Theresa May prepared on Friday to step down as Conservative leader as the Labour opposition held off a challenge from the Brexit Party in the Peterborough by-election.

May will stay as prime minister until her successor is chosen after resigning two weeks ago for failing to get her Brexit deal through parliament.

Eleven Conservative MPs are running to replace her with nominations opening on Monday. Former foreign secretary had hard right Brexiteer Boris Johnson is the favourite to succeed May.

Overnight, Labour narrowly held on to Peterborough, with union activist Lisa Forbes holding the seat for Labour, taking 31% of the vote and beating the Brexit Party's Mike Greene (29%) by 683 votes.

The Conservatives were third with 21%, the Liberal Democrats fourth with 12%, followed by the Green Party on 3%.

Turnout was 48.4%, down from 67.5% in the 2017 general election, when Labour beat the Tories by 607 votes. Voters in Peterborough backed Leave by 61% to 39% in the 2016 EU referendum.

The by-election was called after Fiona Onasanya, who was convicted of lying over a speeding offence and thrown out of the Labour Party, became the first MP to be ousted under recall rules.