WEEKLY UPDATE – Stocks in Stockholm rose on easing fears over eurozone debt, mirroring overnight Wall Street gains.

The OMX Stockholm 30 index closed up 0.77 percent Friday. Compared to last week the index was up 3.62 percent.

"Equity markets seem to be calming down once again after the heightened levels of volatility we saw a few days back and there has to be a degree of concern that this marks the start of the summer slowdown," IG Index research analyst Ben Potter told AFP.

Banks were boosted by improving confidence in the eurozone economy after a strong bond auction for Spain. SEB rose more than 3 percent Friday and Swedbank and Nordea were up almost 2 percent.

Shares in the world's top mobile phone maker Nokia plunged 11 percent Wednesday after it slashed its second-quarter and full-year forecasts for its key devices and services unit.

"Nothing has changed. The challenges remain but it was still a surprise for the company that the second and third quarter will be more challenging than they had estimated," Nordea analyst Sami Sarkamies told AFP. "A new factor is the foreign exchange rate, which did not impact the previous quarter," he said.

Telecom giant Ericsson rose Tuesday after Goldman Sachs raised its share price target on the Swedish telecoms equipment maker and maintained its "buy" rating. The company's CEO Hans Vestberg repeated that Ericsson was focused on improving its margins and said that the wireless industry had a long-term growth potential.

Shares in the Anglo-Swedish drug maker AstraZeneca's declined Thursday after a court in Canada rejected the drugmaker's bid to stop a copycat version of its top-selling drug Nexium from entering the market.

Investment bank Öhman has begun monitoring four Swedish construction and real estate firms. It initiated with an "outperform" rating real estate firm JM and construction companies Skanska and NCC, while assigning "underperform" on Peab.

Since the turn of the year the OMX Stockholm 30 index is up 10.81 percent.