OMX Iceland 15

The OMX Iceland 15 (formerly the ICEX15) is a defunct stock market index which consisted of a maximum of 15 companies listed on the OMX Iceland Stock Exchange with the highest market capitalization. At the final official review of the index effective in January 2009, 12 companies made up the index, four of which were Faroese. Calculated daily since 1998 and starting at 1,000 points, it was a market value-weighted index and the constituent companies were reviewed twice a year.

Over the year 2008 and over the entire decade 1998-2008 the OMX Iceland 15 was the worst performing stock index in the world, being heavily affected by the 2008 Icelandic financial crisis which saw a number of index constituents become insolvent, be nationalised or opt to delist from the exchange. The index was discontinued in July 2009 and replaced by the OMX Iceland 6 as the exchange's benchmark stock index, which had run concurrently for the previous six months.

2008 decline

OMX Iceland 15 suffered a great loss during the financial crisis in 2008. Trading in the stock market was suspended for three successive trading days, October 9, October 10, and October 13. Trading was resumed on October 14, 2008, and OMX Iceland 15 closed at 678.4, which corresponds to a fall of about 77% compared with its close at 3,004.6 on October 8, 2008. This reflected the fact that the value of the three big banks (Glitnir, Kaupthing Bank and Landsbanki Íslands) which formed 73.2 percent of the value of the OMX Iceland 15, had been set to zero.

Iceland

Iceland (ⁱ/ˈaɪslænd/; Icelandic: Ísland [ˈistlant]), also called the Republic of Iceland, is a Nordic island country between the North Atlantic and the Arctic Ocean. It has a population of 329,100 and an area of 103,000 km² (40,000 sq mi), making it the most sparsely populated country in Europe. The capital and largest city is Reykjavík. Reykjavík and the surrounding areas in the southwest of the country are home to over two-thirds of the population. Iceland is volcanically and geologically active. The interior consists of a plateau characterised by sand and lava fields, mountains and glaciers, while many glacial rivers flow to the sea through the lowlands. Iceland is warmed by the Gulf Stream and has a temperate climate, despite a high latitude just outside the Arctic Circle. Its high latitude and marine influence still keeps summers chilly, with most of the archipelago having a tundra climate.

According to Landnámabók, the settlement of Iceland began in the year 874 when the Norwegian chieftain Ingólfr Arnarson became the first permanent settler on the island. In the following centuries, mainly Norwegians and to a smaller extent other Scandinavians settled Iceland, bringing with them thralls of Gaelic origin. From 1262 to 1814, Iceland was ruled by Norway and afterwards by Denmark. Until the 20th century, the country relied largely on fishing and agriculture. Iceland became independent in 1918 and a republic in 1944. Industrialisation of the fisheries and Marshall Plan aid following World War II brought prosperity and Iceland became one of the wealthiest and most developed nations in the world. In 1994, it became a part of the European Economic Area, which supported diversification into economic and financial services.

Geography of Iceland

The geography of Iceland entails the geographic features of Iceland, an island country at the confluence of the North Atlantic and Arctic Oceans. Iceland is located east of Greenland and immediately south of the Arctic Circle, atop the constructive boundary of the northern Mid-Atlantic Ridge. It lies about 860 km (534 mi) from Scotland and 4,200 km (2,610 mi) from New York City. One of the world's most sparsely populated countries, the republic of Iceland's boundaries are almost completely the same as the main island – the world's 18th largest in area and possessing almost all of the country's area and population.

Iceland has extensive volcanic and geothermal activity. The rift associated with the Mid-Atlantic Ridge, which marks the division between the European and North American tectonic plates, runs across Iceland from the southwest to the northeast. This geographic feature is prominent at the Þingvellir National Park, where the promontory creates an extraordinary natural amphitheatre. The site was the home of Iceland's parliament, the Alþing, which was first convened in 930. It is a common misconception that Þingvellir are located at the juncture between the North American and Eurasian continental plates. However, they are in fact at the juncture of the North American continental plate and a smaller plate (approx. 10,000 km2) called the Hreppar Microplate (Hreppaflekinn).

Iceland (album)

Iceland is an EP released by All About Eve in 2002. It was described mainly as a winter (rather than specifically Christmas) EP, although five out of seven of the songs do contain references to Christmas or are songs particularly connected with it.

Only Melting and Cold are new All About Eve-penned songs. "Last Christmas" is a cover of the Wham! song and "A Winter's Tale" is a cover of the Queen song. The two versions of "December" are takes on the original All About Eve song (as found on their second album Scarlet and Other Stories) and Walking in the Air is a radical re-working of the song made famous as theme music to The Snowman.

This album was made (and the songs performed) by Julianne Regan and Andy Cousin only, and did not include Robin Guy or Toni Haimi, the other band members at the time.

Track listing

External links