CNBC reports
Citron just said that is has covered a majority of its GameStop shorts at a loss. It says that it covered them „within the $90’s“. GameStop shares now trimming gains to roughly 30% in pre-market trading on the back of all this.

European indices fall to fresh session lows
The DAX is now down by over 1% as European indices are seeing red across the board. Adding to that is US futures also falling to fresh lows on the day. S&P 500 futures are down 0.3% while Nasdaq futures are seeing gains trimmed to 0.3% now.

Corriere della Sera reports with the headline
This is very much expected as mentioned earlier . The question now is will he be able to form a viable coalition to return back to the helm. Otherwise, fresh elections certainly isn’t out of the realm of possibilities at this stage.

Dollar pares early advance and is trading flatter across the board now
The same goes for other major currencies against one another as there isn’t much change as we look towards midday in Europe. A snapshot:

Latest data released by CBI – 26 January 2021
„With the lockdown likely to remain in place in the near-term retailers expect this weakness to continue.“
Looking at the details, online sales reported a surge but high-street retailers suffered – especially clothing stores.

Conte is to offer his resignation in a gambit to get a fresh mandate to form a more viable coalition to lead the country
This has been rumoured all through of yesterday night and is pretty much looking to be the case today. The mess and bewilderment in Italian politics is nothing new to the market,

The greenback pares gains across the board as stocks push higher
Of note, the dollar has almost pared all of its gains against the commodity currencies with NZD/USD bouncing off its 200-hour moving average and lows of 0.7167 to 0.7197 now – just shy of the day’s high of 0.7204.

EU said to hold a virtual meeting with AstraZeneca later at 1130 GMT
From Sky News‘ correspondent, Adam Parsons:
European Union members states will hold a virtual meeting with AstraZeneca at 1230 Brussels time (1130 UK) to express their anger over delays. EU is clear that it provided money so production capacity could have been ramped up

GBP/USD falls from a high of 1.3723 earlier to 1.3668 currently
The drop after failing to hold yet another break above 1.3700 – at least for a comfortable enough period – sees cable fall back to test its 100-hour moving average (red line) @ 1.3678. Keep below and the near-term bias stays more neutral now.

A bit of a mixed start to the session so far
The dollar has trimmed losses on the day, even pushing higher against the euro, pound and franc currently as we navigate through the first-half of European morning trade.