Swiss Market Sheds Early Gains, Ends Just Marginally Up

Swiss shares finished only marginally higher after giving up most of their early gains. The SMI briefly rose to 13,871.09 before closing up just 9.52 points, or 0.07%, at 13,717.54. The market initially tracked global optimism after reports that the U.S. and Iran reached a peace deal, including a plan to reopen the Strait of Hormuz and end the U.S. blockade of Iran. Local sentiment was also shaped by weaker Swiss inflation data: producer and import prices fell 0.4% in May, missing expectations for a 0.4% rise, while consumer sentiment remained slightly negative. Stocks were mixed, with Holcim, Amrize, Partners Group and UBS-related names among the gainers, while Kuehne + Nagel, Novartis, Roche, Swisscom and Nestle weighed on the index.