15 Oct 2008

Icelandic stock exchange reopens

6:48 am on 15 October 2008

Trading has resumed on the Icelandic stock exchange for the first time since its suspension last Thursday.

The main share index immediately fell 76%, but officials said this was a statistical anomaly caused by trading remaining suspended in financial firms.

When this factor is pulled out, the index actually rose slightly.

Iceland is still coming to terms with a near-collapse of its banking system. Its three largest banks had to be nationalised last week.