The ICEX-15 index, made up of shares in the 15 companies listed on the Iceland Stock Exchange, has risen steadily since early August and shows no signs of stopping. The index rose yesterday for the 12th day in a row, going above 6,000 index points for the first time since last March. This is reported by RÚV online.
The ICEX-15 rose almost continuously from October last year to February of this year, going from 4,500 points to nearly 7,000 points. At that point it dropped sharply and was at its lowest last August, or just under 5,300 points. Jafet Ólafsson, Director of VBS Investment Bank, says that there are two reasons for the recent rise. Investors have growing faith in the Icelandic market, and most of the ICEX-15 companies showed very good results for the first six months of the year.