BRUSSELS (dpa-AFX) - The Switzerland market closed on a firm note on Monday, in line with markets across Europe, as a sharp drop in oil prices and softening bond yields helped underpin sentiment.
Oil prices fell sharply following remarks by U.S. President Donald Trump that renewed military strikes on Iran were 'highly unlikely' while talks to end their eight-month-old conflict continue.
Brent crude front-month futures fell to $92.80 a barrel, losing more than 5%.
The benchmark SMI, which edged down slightly at the start, swiftly emerged in positive territory and kept edging higher and higher as the day progressed to eventually settle with a gain of 149.65 points or 1.01% at 14,946.15, slightly off the day's high.
Julius Baer rallied 3.6%. Sika climbed about 3.3%, while Roche, VAT Group and ABB moved up 2.77%, 2.67% and 2.4%, respectively.
Holcim gained nearly 2%. Geberit, UBS Group, Lindt & Spruengli, Helvetia Baloise Holding, Amrize, Swiss Life Holding and Straumann Holding gained 0.9%-1.2%.
Sandoz Group, Richemont, Partners Group and Zurich Insurance posted modest gains.
Kuehne + Nagel dropped 2.59%. Swisscom and Swiss Re ended lower by 1.25% and 1.1%, respectively. Sonova, Lonza Group and Galderma Group shed 0.6%-0.8%.
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