European Stocks Drop Most in Three Weeks; Adidas Forecast

European stocks declined the most in three weeks as Adidas AG lowered its profit forecast and Banco Espirito Santo SA led a plunge in Portuguese equities.

Adidas slumped the most in 15 years as the sporting-goods maker said the crisis in Ukraine will reduce its profit from Russia. Banco Espirito Santo sank 42 percent after making provisions of 4.3 billion euros ($5.7 billion). Afren Plc tumbled 26 percent after suspending senior managers following an investigation into unauthorized payments. Royal Dutch Shell Plc added 2.5 percent after beating profit estimates.