Iceland stock market world’s highest grower
Iceland’s OMX Iceland 8 stock exchange has been the world’s best performing stock exchange this summer, with an index increase of 11%.
According to data from Icelandic bank Landsbanki, most companies listed in the OMX Iceland 8 have risen in price since the beginning of the year, the biggest risers being N1, Marel, Össur and Icelandair.
Since January 1, the total value of OMX Iceland 8 companies has increased by some 35%, from ISK 588 billion to ISK 795 billion (approx. €5.4 billion).
Over the period 15 May-14 August, the Icelandic stock exchange has been by far the star performer.
Only four other markets (NASDAQ-100, OMX Copenhagen 20, Micex Russia, and Nikkei 225) have actually grown over the period in question, between 2% and 4% – way behind Iceland’s figure of 11%.
It must, however, be borne in mind that markets with few companies can present a misleading picture of the strength of the market as a whole. In Iceland, for instance, just Marel and Icelandair combined make up some 53% of the overall index. Both companies have shown good growth and returns this year.