Swiss Stocks Rise After Iran Opens Strait Of Hormuz To Commercial Traffic
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Swiss stocks surged on Friday after Iran announced the Strait of Hormuz is open to commercial traffic, following a ceasefire between Israel and Hezbollah. The SMI index rose by 253.55 points (1.92%) to 13,426.72. Notable gains included VAT Group (+6.1%), and several others like Straumann Holding and Richemont increased by 4%-4.8%. U.S. President Trump welcomed the announcement but maintained the military blockade on Iranian ports until a peace deal is reached.
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