WEEKLY UPDATE - Swedish stocks closed down Friday after dull US data and nervousness ahead of the reporting season.

Stocks in Stockholm closed down Friday, the first day of fourth quarter, after data showed growth in the U.S. manufacturing sector slowed in September. Markets are also nervous ahead of the corporate earnings season.

Investors confidence was however lifted by the fact that world oil prices jumped higher on Friday, extending the previous day's gains as positive Chinese manufacturing data spurred hopes of strengthening global energy demand.

The OMX Stockholm 30 index closed down 0.49 percent. Compared to last week stocks were up 0.77 percent. The OMX Nordic 40 index closed down 0.79 percent Friday, with Copenhagen 1.17 percent in the red and Iceland up 0.80 percent.

Oil firm Lundin Petrolium rose almost 2 percent Friday after world oil prices hit multi-month peaks. "Crude is trading higher, supported by encouraging Asian economic releases," SEB Commodities Research analyst Filip Petersson, told AFP.

Swedish construction group NCC rose Friday after announcing it has won a contract worth some 400 million kronor to build 210 flats at the Port of Aarhus, Denmark, as part of the city's plan to expand the harbour area. Shares closed up 2.70 percent.

The same day engineering group Alfa Laval said that it increased its takeover offer for humidity control products maker Munters to 75 kronor per share, up from 68 kronor. Shares in Alfa Laval traded down 1.1 percent while Munters rose 0.3 percent.

Swedish fashion retailer Kappahl Tuesday booked an 18 percent rise in fourth quarter profit, helped by tax gains. Its shared dropped 6 percent, as earnings were lower than expected. CEO Christian Jansson said: “Growth from new stores continues to be good and we have succeeded in improving the growth rate in existing stores, though here we have more to do.”

Ttruck maker Scania said it had signed a memorandum of understanding to supply engines to South Korea's Doosan Infracore, which could give the company access to the growing Asian market for construction equipment.

Forestry group UPM-Kymmene rose 5 percent after announcing it is negotiating with debt laden Finnish paper maker Myllykoski and it lenders on acquiring Myllykoski's operations.

Drug maker AstraZeneca Plc slipped 1.1 percent Monday, the tenth fall in eleven days, after its experimental cancer treatment zibotentan failed to help patients.

Since the turn of the year the OMX Stockholm 30 index is up 13.73 percent.

This article has been published at The Swedish Wire and Nasdaq OMX Nordic.