Swiss Market Index and DAX rise amid oil price shifts

European stock markets, including the Swiss Market Index (SMI) and the German DAX, showed gains as oil prices eased. The SMI rose by 0.54 percent, while the DAX increased by 0.69 percent.

Market volatility remains influenced by fluctuating oil prices and rising interest rate concerns. Following reports that Iran proposed a plan to the US to reopen the Strait of Hormuz under specific conditions, oil prices saw a slight decrease.

Global bond yields have also risen significantly, with 10-year US, German, and Japanese bond yields all seeing increases. This trend is partly driven by expectations of further interest rate hikes from the US Federal Reserve. Technical analysis of the SMI suggests a potential corrective pullback toward the 13,850 level before a projected bullish move toward 14,200.