In English, the letter è is sometimes used in the past tense forms of verbs in poetic texts to indicate that the final syllable should be pronounced separately. For example blessèd would indicate the pronunciation bles-sed rather than blest. It also occurs in loanwords such as Italian caffè.
"È" means "is" in modern Italian[ɛ], e.g. "il cane è piccolo" meaning the dog is small. It is derived from Latin "est" and is accented to distinguish it from the conjunction "e" meaning "and".