Swiss Market Index Joins European Rally Amid US-Iran Ceasefire Deal

The Swiss Market Index was up 2.53% on Wednesday's close, joining a regional rally in Europe, as investors sighed in relief after the US and Iran reached a conditional two-week ceasefire agreement.In a social media post on Truth Social, President Donald Trump said the US received a "workable" 10-point proposal from Iran that could serve as a basis for negotiations to potentially end the war. The Iranian government said in an official release that it will cease its defensive operations and allow safe passage through the Strait of Hormuz if attacks against the country are halted.Leaders from around the globe expressed support for the ceasefire and diplomatic efforts in achieving an end to the conflict in the Middle East."We strongly encourage quick progress towards a substantive negotiated settlement. This will be crucial to protect the civilian population of Iran and ensure security in the region. It can avert a severe global energy crisis," the leaders of the UK, Canada, Denmark, France, Germany, Italy, Japan, the Netherlands, Spain, the European Commission and the European Council said in a joint statement. "We call upon all sides to implement the ceasefire, including in Lebanon. Our Governments will contribute to ensuring freedom of navigation in the Strait of Hormuz."As of press time, London's Financial Times reported that Iran threatened to withdraw from the deal due to Israel's continued attacks in Lebanon.Back home and on the labor market front, Switzerland's unemployment rate in March edged down to 3.1% from 3.2% in the previous month, government data showed. The number of unemployed people declined by 4,821 month over month to 146,255 in March.Over to corporates, UBS Group (UBSG.SW) and fellow Swiss banks Banque Cantonale Vaudoise (BCVN.SW), Raiffeisen, PostFinance, Sygnum and Zürcher Kantonalbank are working together with Swiss Stablecoin AG for a new joint initiative to test potential use cases for a local currency stablecoin in Switzerland. A sandbox for a Swiss franc stablecoin is set to be launched in 2026 as part of the initiative, which is aimed at supporting the development of a local digital money ecosystem, among other objectives. UBS shares gained 3.98% at closing, while those of Banque Cantonale Vaudoise were down 0.77%.Meanwhile, Zurich Insurance Group (ZURN.SW) shareholders approved a dividend of 30 francs per share for full-year 2025 at its annual general meeting, to be paid out April 14, 2026. The Swiss insurer paid 28 francs per share a year ago. The stock closed the session 0.74% higher.

-- The Swiss Market Index was up 2.53% on Wednesday's close, joining a regional rally in Europe, as investors sighed in relief after the US and Iran reached a conditional two-week ceasefire agreement.

In a social media post on Truth Social, President Donald Trump said the US received a "workable" 10-point proposal from Iran that could serve as a basis for negotiations to potentially end the war. The Iranian government said in an official release that it will cease its defensive operations and allow safe passage through the Strait of Hormuz if attacks against the country are halted.

Leaders from around the globe expressed support for the ceasefire and diplomatic efforts in achieving an end to the conflict in the Middle East.

"We strongly encourage quick progress towards a substantive negotiated settlement. This will be crucial to protect the civilian population of Iran and ensure security in the region. It can avert a severe global energy crisis," the leaders of the UK, Canada, Denmark, France, Germany, Italy, Japan, the Netherlands, Spain, the European Commission and the European Council said in a joint statement. "We call upon all sides to implement the ceasefire, including in Lebanon. Our Governments will contribute to ensuring freedom of navigation in the Strait of Hormuz."

As of press time, London's Financial Times reported that Iran threatened to withdraw from the deal due to Israel's continued attacks in Lebanon.

Back home and on the labor market front, Switzerland's unemployment rate in March edged down to 3.1% from 3.2% in the previous month, government data showed. The number of unemployed people declined by 4,821 month over month to 146,255 in March.

Over to corporates, UBS Group (UBSG.SW) and fellow Swiss banks Banque Cantonale Vaudoise (BCVN.SW), Raiffeisen, PostFinance, Sygnum and Zürcher Kantonalbank are working together with Swiss Stablecoin AG for a new joint initiative to test potential use cases for a local currency stablecoin in Switzerland. A sandbox for a Swiss franc stablecoin is set to be launched in 2026 as part of the initiative, which is aimed at supporting the development of a local digital money ecosystem, among other objectives. UBS shares gained 3.98% at closing, while those of Banque Cantonale Vaudoise were down 0.77%.

Meanwhile, Zurich Insurance Group (ZURN.SW) shareholders approved a dividend of 30 francs per share for full-year 2025 at its annual general meeting, to be paid out April 14, 2026. The Swiss insurer paid 28 francs per share a year ago. The stock closed the session 0.74% higher.