Shares in troubled Portuguese lender Banco Espirito Santo slumped 50 percent on Thursday, after trading in the stock resumed following poor results.
Euro zone inflation fell more than expected in July, according to new figures released on Thursday, sparking renewed fears of deflation.
Diageo posted weaker-than-expected earnings on Thursday, hurt by a slowdown in China and volatility in other emerging markets.
Royal Dutch Shell posted a healthy jump in quarterly earnings, as its new CEO works to cut costs and streamline projects.
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Katie Koch, head of global portfolio solutions international at Goldman Sachs, says that while the sanctions are likely to weigh on the Russian economy, the risk of contagion to other emerging markets is low.
John Stephenson, president and CEO of Stephenson & Company Capital Management, discusses ExxonMobil ahead of earnings and says the results should be "pretty good".
The euro zone is probably already in deflation, says Mario Greco, CEO of Generali, adding that Europe needs more reforms to boost its labour market and competitiveness.