European stocks rise, but set for hefty weekly losses; Middle East conflict rages in Stock News 06/03/2026 European stocks edged higher, but sentiment remains fragile as the war in the Middle East rages on while investors warily await the release of key U.S. employment data. At 03:05 ET (08:05 GMT), the DAX index in Germany gained 0.7%, the CAC 40 in France advanced 0.3% and the FTSE 100 in the U.K. rose 0.2%. Despite these gains, the main European indices are on course for weekly losses of around 5%, the largest drops since last April. Turbulent week for stocks It has been a turbulent week for equity markets, as investors attempt to work out the likely length and severity of the conflict in the Middle East, and the potential economic impact upon the global economy. The conflict has entered its seventh day, and has shown no signs of slowing down. U.S. Secretary of Defense Pete Hegseth stated late Thursday that “the amount of firepower over Iran and over Tehran is about to surge dramatically”, while Israel earlier Friday said it had started a “broad-scale” wave of attacks against infrastructure targets in Tehran, Iran, in retaliation, has targeted Israel, the Gulf states, Cyprus, Turkey and Azerbaijan, broadening the conflict to neighboring countries. U.S. President Donald Trump, speaking with Reuters in a telephone interview, also said the United States must have a role in deciding who will be the next leader of Iran after airstrikes killed Supreme Leader Ayatollah Ali Khamenei last week. This follows Mojtaba Khamenei, the son of Iran’s slain supreme leader, emerging as ‌a frontrunner to succeed him, suggesting the Iranian regime was not about to buckle under pressure. Eurozone GDP data due Away from matters of geopolitics, the latest growth data from the eurozone are scheduled for release later in the season. Eurozone gross domestic product is expected to show quarterly growth of 0.3%, annual growth of 1.3% in the final quarter of last year. However, most eyes are likely to be on the release of the monthly U.S. nonfarm payrolls report later in the session. Expectations are for the world’s largest economy to have added 59,000 jobs in February after accelerating by 130,000 in January, while the unemployment rate is forecast to have held steady at 4.3%. Lufthansa reports record revenue There are also more quarterly earnings for investors to wade through Friday, with the quarterly reporting season gradually drawing to a close. Deutsche Lufthansa (ETR:LHAG) posted record annual revenue in 2025 but a slim operating margin, as the German flagship airline brand barely broke even and management stopped short of quantifying 2026 profit guidance, citing Middle East uncertainty. IMI (LON:IMI) announced a £500 million share buyback after the British fluid and motion control group posted a fifth consecutive year of mid-single digit organic revenue growth. Comet Holding (SIX:COTNE) slashed its dividend by two-thirds after free cash flow collapsed 80% in 2025, as a weaker dollar and unfavorable product mix eroded margins even as the Swiss semiconductor technology company posted modest sales growth. Spie (EPA:SPIE) reported record annual profit, as the French digital services company’s 2025 revenue crossed the €10 billion mark for the first time. Crude set for strong weekly gains Oil prices steadied Friday, and were still on track for hefty weekly gains as escalating conflict in the Middle East raised concerns over global supply disruptions. Brent futu