Swiss Market Index Rises on US-Iran Pause, Oil Prices Drop

The Swiss Market Index (SMI) rose by 0.41% on Monday, as the US and Iran's pause in military strikes eased investor concerns and sent oil prices lower.

The index climbed to 14,385.46, extending gains from the previous session when it closed at 14,327.20, up 0.79%. This puts the SMI within striking distance of its all-time high closing level of approximately 14,104, reached in February during a global equity rally.

The rally was driven by the de-escalation of tensions between the US and Iran, which triggered a sharp decline in oil prices with Brent crude falling roughly 6% to trade around $90 a barrel. This eased broader inflation concerns that had weighed on European markets in recent weeks.