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The Icelandic stock index OMXI6 at an all time high

The Icelandic stock index OMXI6 increased 1.1% last Friday and the index closed at 1201 points and that is the highest value that the index has ever achieved. The index goes back to the beginning of 2009. Turnover has been high and the index has increased much in the past months.

The Icelandic stock market fell around 99% following the financial crisis that started in 2008. A new stock index was created early 2009. The new index, OMXI6 has increased 13.4% since the beginning of 2013 and turnover has been high. Icelandair Group has increased 32% in the same period and the share price is now 10.9 kr / share.

The average turnover on the stock market has been around 1.2 billion ISK per day, or around 7 million EUR, in 2013. Last year the average turnover was only 352 million ISK per day, or around 2 million EUR. Total turnover for 2013 is around 33.6 billion ISK (195 million EUR) and the total turnover on the bond market for the same period was 240.7 billion ISK (1.4 billion EUR). The stock market is still quite small, for example in 2007 the yearly turnover was 200% of GDP but last year the same ratio was around 5%.

The stock index has continued to increase this morning.

 

Source: isb.is

http://app.isb.is/Markadir/Greining/BirtaMorgunkorn.aspx?id=10054&queueid=5879

Last modified on Monday, 11 February 2013 12:53

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