Swiss Market Ends On Firm Note

(RTTNews) - After languishing in negative territory till noon on Monday, Switzerland's equity index SMI moved above the flat line and stayed positive thereafter to end the day's session on a firm note despite paring a significant portion of its gains.

The early weakness was due to an escalation in tensions in the Middle East after following Trump issuing a 48-hour ultimatum to Iran to reopen the Strait of Hormuz, warning of strikes on power plants. Tehran retaliated by saying that it would attack Israel's power plants and plants supplying U.S. bases in the Gulf if Trump carries out his threat to "obliterate" Iran's power network.

The U.S. President's subsequent announcement that he's postponing strikes on Iranian energy infrastructure, and the resultant drop fall in oil prices helped lift sentiment in global markets.

Trump said Washington has held "very good and productive" conversations with Iran and has ordered a temporary halt to planned military strikes on Iranian power plants and energy infrastructure.

Richemont closed more than 5% up. Amrize climbed 3.27%, while Julius Baer and VAT Group gained 2.34% and 2.17%, respectively.

Geberit moved up nearly 2%. Logitech International, Partners Group, Sika, UBS Group, Holcim, Helvetia Baloise Holding and Roche Holding gained 1%-1.6%. Kuehne + Nagel, Lindt & Spruengli and Straumann Holding alco closed notably higher.

Sonova ended 5.85% down, after the company lowered its expectations for the full-year to the lower end of the previously announced range. Sonova also announced plans to sell its Sennheiser consumer hearing business, which generated about 6.5% of its revenue in the financial year 2024/2025.

Sandoz Group and Nestle closed lower by 1.88% and 1.33%, respectively. Givaudan finished 0.8% down, while Zurich Insurance settled with a loss of 0.67%.