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European stocks fell today, while reaching its lowest level in more than three months, which was associated with the publication of weaker-than-expected corporate reporting.

Investors are starting to be concerned about what rosy forecasts for higher profits in the second half of the year may not materialize. "There are doubts that the corporate sector is able to support the growth in order to justify the current level of capitalization" - believes economist Charles Stanley Betstoun Jeremy Carr.

Meanwhile, we add that the EU back fears of a new round of banking crisis, which is caused by the continuing deterioration of the situation of the second largest bank in Portugal Banco Espirito Santo.

Also attracted the attention of market data on unemployment in the U.S. in July. As it became known, the pace of hiring by American employers slowed in July but remained high, while employment growth was broad-based, indicating continued improvement in the labor market and the economy as a whole. Non-agricultural employment increased by 209,000 last month, and the unemployment rate rose to 6.2% from 6.1% in June. The unemployment rate fell by 1.1 percentage points from July 2013, when it was 7.3%. Economists had expected employment to increase by more 230,000 and the unemployment rate will remain at 6.1%. Employment rose by 298,000 in June, which was revised from earlier estimates of 288 000 and a gain in May was revised up to 229,000 from the earlier estimate of 224,000. Increase employment averaged 245,000 over the past three months, compared with an average of 209 000 for the 12 months ended in June. The July increase extends a series of observations, when non-farm employers added 200,000 more jobs for six consecutive months, the first time since 1997.

National benchmark indexes fell in 16 of the 17 western European markets that were open today. Markets in Switzerland were closed for a national holiday.

FTSE 100 6,679.18 -50.93 -0.76% CAC 40 4,202.78 -43.36 -1.02% DAX 9,210.08 -197.40 -2.10%

The value of shares ArcelorMittal, the world's largest steel producer, fell during trading up 6.2%. The company lowered its forecast EBITDA for 2014 to "more than $ 7 billion" with $ 8 billion

Paper French operator Iliad SA fell 6.9% after it became known that the company has made an offer to buy 56.6% stake in the fourth largest operator in the U.S., T-Mobile US, for $ 15 billion

Shares of Europe's largest construction company Vinci SA fell 6.4%. Vinci predicts a "small" decrease in revenues in 2014, whereas previously the French company expected that this figure "slightly change." Vinci profit excluding interest and tax payments in the first half of 2014 amounted to 1.54 billion euros, were worse than the average forecast of analysts at 1.63 billion euros.

Quotes insurance company Axa SA increased by 1.1% due to stronger-than-expected quarterly reports. In the first half net profit rose 22 percent - up to 3 billion euros, which was higher than expert estimates at 2.7 billion euros.

Paper Arkema SA fell 25 percent, registering the largest decline over the past 8 years. The company said it will be able to achieve its goal of sales and profit only in 2017 and not 2016 as previously predicted. We also learned that in the second quarter EBITDA was at 206 million euros, compared with forecasts of 234 million euros.