WEEKLY UPDATE - Stocks in Stockholm rose slightly during the week after expectations of more monetary easing from the US Federal Reserve and upbeat company reporting.

The OMX Stockholm 30 index was down 0.33 percent in Friday midday trading. Compared to last week stocks were up 1 percent. Also the OMX Nordic 40 were up 1 percent compared to last Friday.

The Swedish krona reached its strongest level against the dollar in two years Thursday after a "hawkish" speech by the Riksbank Deputy Governor and expectations of more monetary easing from the US Federal Reserve.

"You now have this perverse situation where bad economic news in the US is good news for equities because it supports the case" for quantitative easing, BBY senior institutional trader Peter Copeland told Dow Jones Newswires.

Sweden tweaked its economic growth forecasts on Tuesday, raising the outlook this year to 4.8 percent this year and lowering it to 3.7 percent in 2011. Finance Minister Anders Borg said in a statement: "The permanent effects of the crisis are expected to be less pronounced than previously assumed, which will mean more rapid recovery."

Shares in telecom giant Ericsson fell Friday after its joint venture Sony Ericsson third quarter profit fell far short of the figures expected by analysts. Ericsson and its Finnish rival Nokia gained Wednesday after American Intel, the world’s largest chipmaker, forecast sales that exceeded analysts’ projections.

Cheap'n'chic fashion group Hennes & Mautitz rose Friday after saying same-store sales rose 8 percent in September, beating the 5.6 percent consensus forecast.

Investor AB, the Swedish publicly traded industrial holding firm controlled by the influential Wallenberg family, traded flat Wednesday after it said its investments in the bank SEB and compressor maker Atlas Copco boosted its net asset value during the third quarter and that it sees "strong" growth potential in Asia and Latin America. Figures were in line with consensus estimates, with the net asset value per share spot on.

Scandinavian airline SAS rose almost 5 percent Wednesday after announcing will expand its route network with two new long-haul routes. "Due to significantly reduced costs, a world-class product and improved market conditions, there are now greater prerequisites for a profitable expansion for SAS”, said Chief Commercial Officer Robin Kamark.

Shares in Electrolux AB, Europe’s largest appliance maker, gained 4.2 percent Monday after the company pledged to buy a 52 percent stake in Egyptian household appliance Olympic Group Financial. “It’s not a huge acquisition but it’s a clear sign where Electrolux is heading,” Carl Holmquist, a Danske Markets analyst, told Bloomberg. “They realize it’s outside North America and Europe that they have to grow. They’re not afraid to dip their toes into new markets like Egypt.”

The same day compressor maker Atlas Copco advanced 3 percent to 131.8 kronor, its highest level in more than three years, after the firm was raised to “buy” from “hold” at Societe Generale.

Since the turn of the year the OMX Stockholm 30 index is up 15 percent.