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Early Italian election could impact financial markets

An early general election in Italy could have implications for financial markets, ITV News Europe Editor James Mates said.

Italian Prime Minister Matteo Renzi has said he intends to resign after being defeated in a referendum on constitutional reform.

Our correspondent said that there could be an election as soon as mid-2017.

Italian PM Matteo Renzi to resign after referendum loss

Matteo Renzi speaks following the referendum. Credit: Reuters

Italian Prime Minister Matteo Renzi has said he intends to resign after being defeated in a referendum on constitutional reform.

Exit polls suggested he had suffered a heavy defeat, having staked his career on winning the referendum.

Mr Renzi said the "no" camp won "extraordinarily clearly" and that he took "full responsibility" for the defeat.

"The experience of my government ends here," he said in a televised address to the nation.

The prime minister said it was now up to the "no" camp to make clear proposals about what to do.

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