Stocks in Iceland Plummeting Skip to content

Stocks in Iceland Plummeting

The exchange rates of stocks in the OMX NASDAQ Nordic Stock Exchange in Iceland dropped considerably yesterday morning, for the second day in a row, with financial service companies being hit hardest.

According to financial expert Ingólfur Bender at Glitnir Bank, the dropping value of stocks in foreign markets is influencing the Icelandic market and is the main explanation for this plummet in stock exchange rates, reports.

Account settlements that have been released for the past few weeks are another influential factor, Bender stated.

The selected share index dropped by three percent yesterday, measuring 4,857 points at noon, and has thus decreased by more than six percent since Monday morning.

The shares of financial service company Exista lost the most value, nearly four percent. On the other end of the spectrum, the shares of Century Aluminum increased the most, around 1.2 percent.

The ISK depreciated by almost one percent yesterday morning and one euro costs about ISK 120 (USD 1.6).

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