Downfall of Selected Share Index Continues Skip to content

Downfall of Selected Share Index Continues

So far this year the selected share index of the OMX Nordic Stock Exchange in Iceland has dropped by 9.46 percent and at the same time the market value of companies registered on OMX has decreased by ISK 214 billion (USD 3.4 billion, EUR 2.3 billion).

Investment companies are still suffering the worst blow. According to Morgunbladid, Kaupthing Bank has lost ISK 71 billion (USD 1.1 billion, EUR 773 million), or 10.9 percent, in market value since January 1. Exista is worth almost ISK 39 billion (USD 626 million, EUR 425 million), or 17.2 percent, less than at the beginning of 2008.

Market analysts say it is impossible to predict when the downfall of the selected share index will come to a halt; it has been dropping steadily since it peaked last summer. Meanwhile, investors are purchasing debentures in increasing numbers.

Click here to read more about the OMX Nordic Stock Exchange in Iceland.

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