Swiss Market Sheds Early Gains, Ends Just Marginally Up
(RTTNews) - After staying positive save for a very brief while before the closing bell, the Switzerland market's benchmark index SMI managed to eke out a small gain on Monday. The bright start was in line with most of the markets across the globe following the U.S. and Iran agre
(RTTNews) - After staying positive save for a very brief while before the closing bell, the Switzerland market's benchmark index SMI managed to eke out a small gain on Monday.
The bright start was in line with most of the markets across the globe following the U.S. and Iran agreeing to a peace deal. The preliminary framework agreed to by the two nations includes halting the U.S. blockade of Iran and reopening of the Strait of Hormuz.
According to reports, an official signing ceremony is scheduled to take place in Switzerland on June 19.
US President Donald Trump announced the agreement on Truth Social on Sunday, saying, "The Deal with the Islamic Republic of Iran is now complete."
Trump exclaimed that the "great deal" would bring "peace and security to the whole region."
The SMI, which advanced to 13,871.09 in early trades, settled with a marginal gain of 9.52 points or 0.07% at 13,717.54, nearly 25 points off the session's low.
Holcim and Amrize gained 3.2% and 3%, respectively. Partners Group gained about 2.4%.
Sika and Julius Baer both ended higher by a little over 2%. Geberit, Swiss Life Holding, UBS Group and Zurich Insurance moved up 1.5%-1.8%.
