# Spare a thought for the Icelanders



## YOUNG_TRADER (15 October 2008)

Hey guys, been lurking a bit here and there as I've been on holidays but was just reading something very interesting


Looks like those poor Icelanders are in trouble, their stock market shed 77% after being suspended for 3 days

Poor Buggers!

We should do something, sponsor an Icelander maybe? Or rent Mighty Ducks 2?





Icelandic stock market crashes on reopening

By James Thompson
Wednesday, 15 October 2008 



The beleaguered Icelandic stock exchange plummeted by 77 per cent yesterday, following a three-day suspension of trading. 


The OMX Iceland 15 Index fell by 2,326.2 to 678.4 - the lowest since April 1996. The fall in shares contrasted sharply with a strong performance by European and Asian shares for the second consecutive day. The Icelandic index has lost 89 per cent of its value this year, making it the worst performing stock exchange globally. 

Shares in six financial companies, including the now-government controlled Kaupthing, Landsbanki and Glitnir, remained suspended, as Iceland has been hit hard by the global financial crisis. Iceland has been forced to ask for help from Russia and the IMF to save its beleaguered economy. Trading in Icelandic shares was suspended on 9 October after the OMX Iceland lost 30 per cent of their value in nine days.


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## YELNATS (15 October 2008)

YOUNG_TRADER said:


> The OMX Iceland 15 Index fell by 2,326.2 to 678.4.




Shouldn't that be the OMG Iceland 15 Index ?


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## mr_delta (15 October 2008)

I am sure they must be feeling pretty "cold" out there atm....

Well, come to think of it, I cannot ever remember reading about the financial institutions or for that matter any commercial company of Iceland before...and now the papers / internet forums have covered Iceland in great details...the Icelanders must just try to comfort themselves by thinking that they spent all their money on advertising their companies / banks to the rest of the world....sometimes a dollar spent on advertising gets you two in the long run !!!!


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## Kipp (9 November 2008)

Mm.... sorry YT, if I am sparing sympathies, it is for the Guernsey and UK depositors who have lost their savings with Icelandic banks which the Icelandic govt has refused compensation for!

http://www.dailymail.co.uk/news/art...er-built-1-2m-fortune-left-bank-collapse.html


I never liked Bjork either.


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