European stocks rise as earnings take centre stage; Adidas rallies on strong earnings

European shares ticked higher on Wednesday, after three straight sessions ‌of declines, as investors turned their focus to a busy run of corporate earnings, while U.S.-Iran talks remained at an impasse.

The pan-European STOXX ‌600 rose 0.2% to 607.54 points as of 0704 GMT. European ‌equities remain almost 5% below pre-war levels, lagging U.S. peers and global markets, which have rebounded, partly driven by gains in AI and tech stocks. U.S. ⁠President ​Donald Trump said ⁠he was unhappy with Tehran's latest proposalto end the war, with the Wall ⁠Street Journal reporting that the president had instructed aides to prepare for an ​extended blockade of Iran's ports.

On the earnings front, Adidas advanced ⁠8.2% after the German sportwear maker reported better-than-expected first-quarter operating profit. UBS gained 5% after ⁠the ​Swiss bank posted first-quarter net profit above expectations despite market turbulence due to the Middle East war.

Deutsche Bank reported its ⁠largest-ever profit under CEO Christian Sewing and upgraded its 2026 investment bank revenue ⁠outlook. However, ⁠its shares fell 2.8%. Pernod Ricard eased marginally after the French spirits company ended merger talks with Jack ‌Daniel's ‌owner Brown-Forman.

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