Iceland financial shares suspended

Trading is suspended for Kaupthing, Landsbanki, Glitnir, Exista, Straumur and SPRON to protect equity as the financial crisis deepens. The country’s business minister, Bjorgvin Sigurdsson, says the government is working on a rescue plan. Iceland’s four major banks have seen their credit scores downgraded by ratings agencies, while pension funds in the country have repatriated cash to invest at home. The banks involved will have to sell some of their foreign assets as part of any government intervention, including a number of UK retail firms. Last week, the Icelandic Government was f...