European markets retreat amid Italian government uncertainty; Marks & Spencer up 5%
The pan-European Stoxx 600 was down over 1 percent during early afternoon deals, with almost all sectors and major bourses in negative territory. Italy's FTSE MIB was the top faller among national indexes, down almost 2 percent as a sell-off in the country's government bond resumed on Wednesday. Sterling slumped to a fresh 2018 low after weaker-than-anticipated U.K. inflation cast doubt over whether the Bank of England would raise interest rates this year.