Around 10:30 a.m., the CAC 40 is down 0.75% at 8,140.37 points, while Frankfurt's DAX 40 has shed 0.96% and the Euro Stoxx 50 is retreating by 0.97%.

The indices' decline is attributed to renewed tensions in the Middle East, where exchanges of fire have occurred despite hopes for a peace deal strengthening significantly earlier this week. However, the U.S. military has indicated it is not seeking escalation against Iran following the latest strikes.

Meanwhile, Donald Trump has urged Iran to sign an agreement quickly, threatening the Islamic Republic with much stronger and more violent strikes should it fail to do so.

This news has had little impact on oil prices. In New York, WTI is down 1.84% at 95.10 dollars, while in London, North Sea Brent has dropped 2.30% to 100.87 dollars.

On the currency market, the euro is gaining ground against the greenback (+0.23%), trading at 1.1759 dollars.

Macro and microeconomic highlights to watch

Regarding economic data, the day's main event will be the release of the U.S. monthly jobs report scheduled for 2:30 p.m. This will be followed at 4:00 p.m. by the University of Michigan consumer sentiment index.

Investors have already noted a larger-than-expected drop in Germany's trade surplus for March. It narrowed to 14.3 billion euros, whereas analysts had anticipated a decline from February's 19.5 billion to 17.8 billion euros.

In another disappointment for Germany, industrial production slumped by 0.7% in March.

On the corporate front, Germany's Commerzbank is down 1.29%, despite reporting a 9.4% increase in first-quarter net profit to 913 million euros.

Also in Germany, Evonik is up 0.91% after meeting its adjusted EBITDA target for the first three months of the year. The chemicals group is also forecasting a strong second quarter.

In France, Engie (+0.07%) announced it has completed the acquisition of UK Power Networks ahead of schedule.

Stellantis (+0.84%) is exploring the possibility of expanding its partnership with Leapmotor.

Fnac Darty (-0.14%) has received approval from the Autorité des marchés financiers for the public tender offer filed by EP FR Holdoc, a company owned by Czech billionaire Daniel Kretinsky, targeting the French retailer.