BRUSSELS (dpa-AFX) - Despite spending much of the day's trading session in negative territory, the Switzerland market's benchmark index SMI settled marginally above the flat line on Tuesday thanks to selective buying at a few counters during the final hour.
Oil prices climbed higher after a cargo vessel was reportedly struck by an unknown projectile in the Strait of Hormuz early on Tuesday local time.
The 60-day Middle East ceasefire agreement has expired, and U.S. President Donald Trump said that he is not interested in renewing the agreement with Iran and threatened to bomb Oman if it 'gets in the way' of a deal with Iran on the Strait of Hormuz.
Meanwhile, Iran has warned of a strong response to any fresh attacks, saying its is preparing to shift to a 'fully offensive' military posture.
The SMI, which slipped into negative territory around mid-morning, stayed weak for a long time before edging higher. The index ended with a gain of 18.51 points or 0.13% at 14,320.90 after scaling a low of 14,251.01 and a high of 14,336.58 intraday.
Alcon gained about 2.5%. Sonova and Novartis moved up 1.85% and 1.75%, respectively, and Roche climbed 1.35%.
Swiss Re, Nestle, Richemont, Swisscom, Zurich Insurance and Galderma Group posted modest gains.
VAT Group closed lower by 4.6%. Amrize, ABB, Logitech International, Holcim, Sika and Sandoz Group ended down 2%-3%.
Kuehne + Nagel, Geberit, UBS Group, Schindler Ps, SGS, Partners Group, Straumann Holdings and Julius Baer also closed notably lower.
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