European stocks declined on Wednesday, dragged down by banking shares, as corporate earnings took center stage ahead of a packed schedule that includes central bank announcements, key data releases, and the looming August 1 tariff deadline this week.

German sportswear company Adidas warned that higher U.S. tariffs would add around €200 million ($231 million) to its costs in the second half of the year, sending its shares tumbling by 7% to their lowest level in nearly four months. JD Sports fell by 0.8%.

The banking index dropped 0.9% a day after reaching its highest level since September 2008. Swiss bank UBS rose 3% after reporting that its second-quarter profits more than doubled compared to last year, while HSBC Holdings fell 5% after posting first-half pre-tax profits below expectations.

The pan-European STOXX 600 index slipped 0.3% at 07:20 GMT. Regional stock markets were mixed, with Germany’s blue-chip DAX down 0.3%, while France’s CAC 40 edged up 0.1%.