It is definitely no exaggeration to say that 2005 has been a singularly auspicious and exciting year. The ICEX-15 index rose more than ever before – and considerably outstripped other markets. Turnover also set a new record of over ISK 2,527 billion, as compared with the previous year’s turnover of just over ISK 2,200 billion. The increase is the result of very high-volume equity trading, while bond turnover dropped, on the other hand. Market efficiency has also increased, as is evidenced by increased liquidity and lower spreads. Two new companies were listed on ICEX, the UK clothing company Mosaic Fashions and the Faroese company Atlantic Petroleum. Preparations are underway for the listing of Avion Group. Company takeovers and acquisitions characterised this past year and to finance these undertakings, listed companies obtained new capital in great quantity on the equity market. All of which makes the year just concluded a particularly outstanding one.
Click here for the full ICEX yearly report for 2005.
