European equities slipped, with the Stoxx 600 down 0.1% and FTSE 100 down 0.4% amid earnings releases and Iran war concerns.
Adidas surged over 7% after beating Q1 profit expectations, while UBS posted an 80% profit jump driven by trading activity.
STMicroelectronics, Airbus, Mercedes‑Benz, Santander and others posted mixed Q1 results, and GSK fell more than 3% despite a 2026 outlook.
Traders await the Fed’s rate decision, expected to hold rates steady, as oil prices stay elevated due to the Iran‑Hormuz impasse.