Iceland suspends share trading

The Government has taken the decision to close the OMC Nordic Exchange Iceland until Monday. Following the collapse of the country’s three largest banks, Kaupthing, Glitnit and Landsbanki, share prices have plummet in unique market conditions. Icelandic authorities are worried that panic in the banking sector might cause the country’s stock market to collapse, causing further turmoil in the tiny nation. The country has guaranteed all domestic savers’ deposits, but victims of the collapse of Landsbanki’s UK Icesave subsidiary, will not be covered. UK Chancellor, Alistair Darling, say...