Elsewhere markets are generally up.
“The Icelandic Stock Exchange fell by 76% in early trading as it re-opened after closing for two days last week.”
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Bank shares make up aproximately 75% of the Icelandic index. Bank shares are still stopped. The index algorithm has set the value of the bank shares to 0. Could this, just possibly, have something to do with this? I am not surprised that some newspapers will fail to understand this. I am surprised that you didn’t spot this, Tyler.
So, if 75% of the stock market went to 0, the rest of the stock market would have fallen 4%. That isn’t too bad, I suppose.
Next question, will Lower Manhattan and NYC and New York in general start looking like Iceland since the astronomical government spending there is dependent on extravagant banker salaries?
What’s that in the back of the picture? Are those the “Mountains of Debt” we keep hearing about?
I vote that we help them.
God knows, $20 billion would go a lot longer for them, than it would for those among ‘involuntarily injected’.
Joe,
Yes, every bank in Iceland (Glitnir, Landsbanki, Kaupthing) will undoubtedly have its shareholders’ equity wiped out. And depositors will be lucky to get their money back too.
How is this beside the point?
live quotes here:
http://omxnordicexchange.com/priceinformation/indexes/Microsite_Index/?InstrumentId=ICEIS0000004380
The picture looks like from the opening scene of the Sound of Music.
Related: the Icelandic Stock Exchange is considering changing its name to “Wild Þing”.
As per my opinion iceland’s main stock exchange where Icelandic stocks, bonds, mutual funds and ETFs are electronically traded. Stocks are listed either on a Main List or an Alternative List, where the latter includes stocks that are traded OTC.Buy Stocks
Every dark night is followed by a bright sunny day. So, patience and
attention is required and things will be fruitful in near future.
Stock Auction
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