Swiss Market Ends Weak After Cautious Session

(RTTNews) - Despite spending much of the day's session in positive territory, the Switzerland market ended moderately lower on Wednesday with stocks paring gains amid cautious moves by investors.

The market gained some ground earlier in the session, reacting to U.S. President Donald Trump extending the ceasefire with Iran.

The U.S. President said in a post on the Truth Social that the U.S. would hold off on attacking Iran until their leasers "come up with a unified proposal."

Dismissing Trump's ceasefire extension as "meaningless," Iran said the Strait of Hormuz will remain closed until the U.S. blockade is lifted.

The benchmark SMI, which advanced to 13,208.00 in early trades, ended the day with a loss of 66.51 points or 0.51% at 13,067.63.

Sonova ended nearly 3% down. Zurich Insurance, Richemont, Sika, Alcon and Sandoz Group closed lower by 2.2%-2.6%.

Lindt & Spruengli, Swiss Re, Helvetia Baloise Holding, Straumann Holding, Givaudan, Roche, Geberit and Galderma Group lost 1.2%-2%. SGS, Schindler Ps, Holcim, Swiss Life Holding and Julius Baer also ended weak.

ABB climbed nearly 3.5%. Kuehne + Nagel and VAT Group ended higher by 1% and 0.93%, respectively. Nestle and UBS Group edged up marginally.