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Corporate Shocks Weigh on European Markets as Adidas Highlights Russia Fears

TheStreet

European stock indices fall as Banco Espirito Santo plunges, taking Portuguese equities down with it, after posting a $4.8 billion first-half loss and announcing an emergency fundraising to build its capital back above the regulatory minimum. In Frankfurt German sporting goods maker Adidas tumbles as Russian woes prompt it to slash its earnings forecast. Balfour Beatty, Carillion call time on short-lived merger talks while Mexican retail and media tycoon Salinas takes to Twitter to reject Telefonica’s advances for wireless services group Iusacell. Laura Board reports from London.