The South African rand recuperated some losses in early trade on Friday, ahead of a key U.S. payrolls data and after slumping on Thursday as tensions escalated in the Middle East. By 0730 GMT, the rand traded about 0.

Global stocks fell on Thursday, weighed down by tepid trading in equity markets across the U.S. and other major regions, even as oil prices extended gains amid rising geopolitical tension from the Middle East conflict.

Escalating tensions in the Middle East are also weighing on investor optimism. Israel's Prime Minister Benjamin Netanyahu vowed to retaliate against Iran after the latter's missile attack. Oil prices are now up roughly 4.

Gaza Dr Anwar Gargash, Diplomatic Adviser to President Sheikh Mohamed, has described the rising tension in the Middle East as a “dangerous phase, with the escalation getting out of control”. His comments come after a tumultuous week for the region,

The Kremlin on Wednesday said the situation in the Middle East was developing in an alarming direction and called on all sides to exercise restraint. Kremlin spokesman Dmitry Peskov told reporters that Russia had contacts with all sides in the region and said Moscow condemned any action that caused the death of civilians.