Iceland stock market world’s highest grower

A new company enters the Icelandic Stock Exchange.

A new company enters the Icelandic Stock Exchange. Photo: Golli / Kjartan Þorbjörnsson

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.

Stock indices on some major markets, 15 May-14 August.

Stock indices on some major markets, 15 May-14 August. Photo: Landsbanki

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