Iceland nationalises biggest bank, halts trading

The Icelandic authorities on Thursday took control of Kaupthing, the country's biggest bank, and halted trading in all shares listed in Reykjavik.

The stock exchange said at 11:41 local time: "Due to unusual market conditions Nasdaq OMX Iceland has decided to suspend temporarily trading on its equity markets. The equity markets will re-open for trading this coming Monday, 13 October."

The nationalisation came after the lender turned to the FME, the Icelandic financial regulator, following a ru

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