WEEKLY UPDATE - Stocks in Stockholm advanced following the US Federal Reserve's stimulus plan.

Stocks in Stockholm fell Friday, with the market closing for the festival of All Saints' Day before the release of better-than expected U.S. jobs data that lifted sentiment that the global economy was on track for recovery. Commodity markets were also in focus as crude oil prices hit two-year high points and gold struck a record peak.

The OMX Stockholm 30 closed down 0.96 percent. Compared to last week the index was up 0.65 percent. The OMX Nordic 40 was up 0.88 percent compared to last Friday, with Helsinki up 1.24 percent, Copenhagen up 1.32 percent and Iceland up 0.09 percent.

Most European shares hit their highest close in more than six months on Friday after upbeat reports from across the Atlantic.

Swedish stocks accelerated on Thursday, as investors welcomed news that the US Federal Reserve launched a second wave of quantitative easing measures overnight. The same day Frankfurt and London hit the highest levels for 2.5 years.

The hike was led by industrial companies sensitive to market fluctuations, such as Alfa Laval and Atlas Copco.

Swedish oil firm Lundin Petrolium also rose after world oil price soared to six-month highs. Since the turn of the year its shares are up almost 25 percent.

Loomis, the armored car unit spun off from Securitas, climbed 4 percent Friday after posting better than expected profits.

Construction company Skanska jumped 3.2 percent Thursday after posting better-than-expected earnings. The builder said the recovery in the U.S. construction market remains uncertain and the U.K. market will be hampered by cuts in public spending. However, the overall sector is continuing to recover, especially in the Nordic region where Sweden is outperforming.

The same day fashion company RNB Retail & Brands rallied 7.4 percent after business weekly Veckans Affärer recommended its readers to investin the company.

Sweden's manufacturing sector growth slowed notably in October as rate of growth in production and new orders eased, results of survey showed Monday. However, companies' production plans in the next six months improved compared to the previous month, Swedbank and Swedish National Association of Purchasing and Logistics said.

Since the turn of the year the OMX Stockholm 30 index is up 15.44 percent.

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