BRUSSELS (dpa-AFX) - The Switzerland stock market ended lower on Thursday, snapping a five-session winning streak, weighed down by disappointing retail sales data and comments from the U.S. Federal Reserve that ruled out possibilities of any cut in interest rates in the foreseeable future.
The benchmark SMI ended down 23.68 points, or 0.24%, at 9,746.06, slightly off the day's low of 9,745.44. The index edged up to a high of 9,784.27 in early trades.
On Tuesday, the index ended up 29.26 points, or 0.3%, at 9,769.74. The market was closed on Wednesday for the May Day holiday.
Geberit shares jumped nearly 7.5% after the company reported first-quarter net income of 192 million Swiss francs, up 4.9% compared to net income of 183 million Swiss francs in the year-ago quarter. Earnings per share increased 6.6% to 5.33 Swiss francs in the first quarter.
Alcon Inc gained 2.25%. LafargeHolcim shares ended up 0.6% after the company sold its operations in Malaysia to YTL Cement Berhard for $396 million. This is the latest divestment by the company as it retreats from fringe markets.
Swatch Group shares tumbled more than 2.5%. SGS declined 1.5% and Adecco ended lower by about 1.1%. ABB, Credit Suisse, Zurich Insurance, Swisscom and Nestle also ended weak.
On the economic front, data from the Federal Statistical Office showed Switzerland's retail sales declined at the steepest pace in six months in March.
The report said retail sales fell a calendar adjusted 0.7% year-on-year in March, after remaining flat in February. Economists had expected sales to decline 0.4%.
The latest decline was the worst since last September.
Sales of food, beverages and tobacco and those of information and communication equipments fell 0.6% and 0.4%, respectively, in March.
On a monthly basis, retail sales fell a seasonally adjusted 0.2% in March, after a 0.5% rise in the previous month.
Among other major markets in Europe, Germany ended notably lower with its benchmark DAX declining 0.85%. The U.K.'s FTSE 100 ended down 0.46% and France's CAC 40 edged up by 0.01%. The pan European Stoxx 600 ended down 0.58%.
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