Swiss Market Sheds Over 1% As U.S.-Iran Tensions Weigh
(RTTNews) - The Switzerland market ended notably lower on Monday as global equities tumbled amid renewed concerns about U.S.-Iran tensions.
After U.S. seized an Iranian vessel near the Strait of Hormuz, Tehran launched drone attacks on U.S. military ships, raising concerns about oil supplies.
Middle East tensions rose after Iran rejected participation in a second round of peace talks with the U.S., citing Washington's excessive demands, unrealistic expectations, constant shifts in stance, repeated contradictions, and the continuing naval blockade, which it considers a breach of the ceasefire.
The benchmark SMI ended down by 142.50 points or 1.06% at 13,284.22, the day's high. The index touched a low of 13,200.18 in the session.
Sika and Lonza Group both shed about 3.2%. Geberit, Nestle and Amrize lost 2.7%-3%.
SGS, Holcim, Givaudan, VAT Group, Alcon and Sonova ended lower by 2%-2.5%. Straumann Holding, ABB, Richemont, Logitech International, Galderma Group and UBS Group lost 1%-1.7%.
Swisscom climbed 1.54%. Zurich Insurance, Kuehne + Nagel, Julius Baer and Swiss Re gained 0.6%-1%.
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