Swiss Market Ends On Strong Note
(RTTNews) - Swiss stocks moved higher on Wednesday, mirroring the positive mood seen across global markets, amid hopes of a U.S.-Iran peace deal.
According to the New York Times, U.S. has sent Iran a 15-point plan to end the war in the Middle East. The report however acknowledged it is unclear whether Iran was likely to accept the plan as a basis for negotiations but argued the delivery of the plan showed the administration is ramping up efforts to conclude the war.
Despite rejecting the US peace plan as "excessive" and issued five conditions to end the war, Iran told the United Nations Security Council and the International Maritime Organization that "non-hostile vessels" may transit the Strait of Hormuz with Tehran's consent.
The benchmark SMI, which stayed firm right through the day's session, settled with a strong gain of 202.42 points or 1.62% at 12,718.36.
Galderma Group, Partners Group, Straumann Holding and UBS Group gained 3%-3.5%. ABB, Logitech International, Julius Baer, Sika, Sandoz Group and Roche Holding closed up by 2%-2.5%.
Lonza Group, Novartis and Swiss Life Holding gained 1.8%-1.9%. Geberit, Holcim, Richemont, Alcon, Zurich Insurance Group, Helvetia Baloise Holding, Givaudan and SGS moved up 1.1%-1.7%.
In economic news, Swiss investor sentiment index slumped by 44.8 percentage points to -35 in March, from 9.8 in the previous month, according to data from UBS and CFA Society Switzerland. March's reading was the lowest since September 2025.
Meanwhile, the current conditions index rebounded to 2.5 from -2.5 in February.
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