European Stocks Record First Weekly Loss in Nearly Two Months

European stocks experienced their first weekly loss in eight weeks on Friday, as investors faced a significant amount of conflicting global economic data, marking a turbulent start to the new year following a strong rise in 2023. The Stoxx 600 index closed down 0.3 percent, narrowing some of its losses after dropping more than one percent during the day, with a weekly decline of 0.5 percent. The retail and chemical sectors were the biggest losers among sectors today, with the retail sector leading weekly losses. However, gains in bank stocks, which rose 0.4 percent, along with a 0.3 percent rise in media sector stocks, helped mitigate losses today.