Icelandic shares fall three days in a row

The Icelandic Stock Exchange (ICEX) has taken big hits during the past three days of trading, in line with stock markets across the world.

ICEX went red on Thursday with a total loss 3.18%, with the biggest casualty being food-processing company Marel (-4.04%). Friday saw an overall loss of 2.72%, with Icelandair Group losing 3.69%.

By midday today, ICEX had fallen a further 2.34% since markets opened this morning.

These losses are in line with falling stock markets across the world, particularly Chinese markets, and may be attributed in part to falling oil prices.