Iceland stock exchange stays shut

Iceland today suspended trading on its stock exchange for the third consecutive trading day, citing “unusual market conditions”.

The decision follows a turbulent week with the government taking control of the country’s three major banks.

Nasdaq OMX Iceland said equity trading will resume tomorrow. The exchange’s fixed income market remains open for trading.

Iceland has been particularly hard hit by the global credit squeeze because of its heavyweight banking sector.

Its troubles are also having repercussions elsewhere in Europe where tens of thousands of private savers have accounts worth millions of euro with branches or subsidiaries of those banks.

More on this topic

World markets follow US plunge

Slump in world markets continues

Rolls-Royce to axe up to 2,000 jobs

IMF approves Iceland support scheme


More in this Section

Netanyahu heads to court as first sitting Israeli PM on trialNetanyahu heads to court as first sitting Israeli PM on trial

Muslims celebrate Eid amid curfews and virus fearsMuslims celebrate Eid amid curfews and virus fears

'Dominic Cummings must go' - Tory MP calls on Boris Johnson to sack his top adviser'Dominic Cummings must go' - Tory MP calls on Boris Johnson to sack his top adviser

Virgin Orbit set for first test flight of LauncherOne vehicleVirgin Orbit set for first test flight of LauncherOne vehicle


Lifestyle

Last week, I wrote about 'small is beautiful' as a key to an improved environment for all living things after this Covid crisis is finally over. As I wrote, I saw, in the mind's eye, the village where I live in west Cork and from which my wife and I are temporarily exiled.Damien Enright: Community spirit can ensure we pull through - together

Fifty years ago, a fox was spotted in Dublin’s St. Stephen’s Green. The unfortunate animal was chased by local ‘gurriers’. It took refuge in a tree but was promptly stoned to death.Richard Collins: Wildlife taking back the streets of our cities

The north pier on Cape Clear has been eerily quiet these last few months as no visitors disembark. The ferry is not unloading boatloads of tourists from Baltimore, 45 minutes away, or from Schull, as it would normally.The Islands of Ireland: Cape Clear tells its side of the story

If the Donegal postman and amateur weather forecaster has it right, we could be in for water shortages in the coming months. Michael Gallagher, who predicted the scorching summer of 2018 and the 2010 freeze-up, says we’ll have a ‘lovely’ summer.Donal Hickey: Demand for water to soar

More From The Irish Examiner