Magic item categories
Empire

Magic Weapon

Runefang

All hits from a Runefang wound automatically with no armour saves allowed.

The Mace of Helsturm

Always Strikes Last. Requires Two Hands. The wielder of this weapon strikes at +2 Strength in close combat. Instead of attacking normally, the bearer can choose to forfeit all of his normal Attacks to make a single, special Attack (which still has the Always Strikes Last special rule). If this Attack hits, it is resolved at Strength 10 and has both the Flaming Attacks and Multiple Wounds (D3) special rules.

Magic Armour

The Armour of Meteoric Iron

The Armour of Meteoric Iron grants the wearer both a 1+ armour save (that cannot be improved by any means) and a 6+ ward save.

Helm of the Skavenslayer

Helm. The wearer of the Helm of the Skavenslayer counts his armour save as being one point higher than normal. The wearer also causes Fear. Against models from a Skaven army, the wearer causes Terror instead. However, all Skaven gain the Hatred special rule while attacking the wearer.

Talisman

The White Cloak of Ulric

Enemies in base contact with the wearer are at -1 to all rolls To hit. In addition, the wearer has a 5+ ward save, increasing to a 2+ ward save against Wounds caused by Flaming Attacks.

Enchanted Item

Van Horstmann's Speculum

When the wearer fights in a challenge, he must 'swap' the Strength, Toughness, Initiative and Attacks characteristics on his profile with his enemy (but not the enemy's mount, if he has one). So, the wearer fights with his enemy fights Toughness, Initiative and Attacks whilst his enemy fights with the wearer's Strength, Toughness, Initiative and Attacks.
Note that you cannot choose not to use Van Horstmann's Speculum and you must swap all of the listed characteristics for the duration of the challenge, not just some of them.

Ring of Volans

One use only.
Bound Spell (power level variable).
At the beginning of the game, choose one of the eight Lores of Magic from the Warhammer rulebook and generate a spell from it as if the bearer were a Level 1 Wizard. That spell is bound within the Ring of Volans and can be cast, just like a bound spell, with a power level equal to the normal casting value of the spell.