European stocks dip on Mideast tensions; Zara owner Inditex gains

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03/06/2026 08:02

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    June 3 (Reuters) - European shares fell marginally on Wednesday as renewed hostilities in the Middle East sent oil prices higher and dampened expectations for an imminent peace deal, while Zara owner Inditex gained after reporting a strong start to the summer.
The pan-European STOXX 600 index .STOXX dipped 0.1% to  624.32 points by 0805 GMT.
Tensions in the Middle East escalated as the U.S. military said it thwarted Iranian missile attacks on Bahrain, Kuwait and other regional targets, sending Brent crude prices up 2%.
However, U.S. President Donald Trump's comments that talks with Iran were ongoing kept losses in check. 
Energy price-sensitive airlines such as Lufthansa LHAG.DE and Air France AIRF.PA slipped 1% each, while auto stocks .SXAP led sectoral declines with a 1.2% drop. 
Among other stocks, Inditex ITX.MC jumped nearly 5% after the Spanish company reported a strong start to summer trading. 
The broader retail sector .SXRP climbed 2% and gained the most among sectors.



 (Reporting by Utkarsh Hathi and Johann M Cherian in Bengaluru; Editing by Sonia Cheema)
 ((utkarshtushar.hathi@thomsonreuters.com))