Italian President Sergio Mattarella addresses journalists after consultations with political parties, on May 7, 2018 at the Quirinale palace in Rome. / AFP / Andreas SOLARO
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European shares retreated Tuesday amid disappointing corporate earnings and worries over a snap election in Italy that put Milan on track for its worst day since an inconclusive March general election.The pan-European STOXX 600 index was down 0.6 percent at 0910 GMT, with Italy's FTSE MIB down 2.3 percent as the chances of an early election grew, reviving worries of political turmoil in the euro zone's third-largest economy.Italian banks took the most off the index, losing 2.5 percent. German postal and logistics group Deutsche Post DHL missed first-quarter profit expectations and saw its shares fall 6.1 percent.Unilever posted the best performance, rising 2.5 percent as it announced a 6 billion-euro share buyback.
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