The Ulster Unionists have suffered another electoral blow after they were reduced to three seats in Belfast City Council - a chamber they once dominated.

While the UUP shipped losses across the board in the local government elections, the damage in Belfast appears most symbolic of its drop in fortunes.

Its pain seems to have been Alliance's gain, as the moderate cross-community party recorded a strong showing in the 26-council poll.

In 582 seats available the DUP won 175, Sinn Fein 138, the UUP 99, the SDLP 87, Alliance 44 with 39 others.

The results following two days of counting were broadly in tune with the weekend outcome of the Assembly election, with the DUP, Sinn Fein and the Alliance faring well as the UUP and SDLP saw support erode.

As the final results came in, leaders of the political parties at Stormont held discussions on the selection of ministers. Deputy First Minister Martin McGuinness said he hoped it would be possible to select the new Executive during a meeting of the full Assembly planned for Thursday.

Parties may however opt to put back the process to next week.

The UUP is awaiting a decision by former member David McClarty as to whether or not he will rejoin its ranks, allowing the party to take two ministries and depriving the Alliance of a portfolio.

Speaking at the Institute of Directors, Celtic Network Dinner at the IoD's headquarters in Pall Mall, London, Northern Ireland Secretary Owen Paterson said the newly elected Assembly and the soon-to-be-formed executive could make a real difference to people's lives and usher in a new era of economic and social progress.

"All the parties in the new executive and Assembly will now need to address the economic challenges that lie ahead," he said.