Equity

We strive to identify strategic concerns, trends, and relevant financial information and through meticulous analyses transform this into comprehensive research and clear investment opinions for our clients.

27.04.2015 13:36

Larger, more stable equity market

The expansion of the domestic equity market was widely expected to stimulate trading, and while turnover has increased, it has not kept pace with market expansion.
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18.02.2015 13:21

Annual accounts and dividend payments 2014

Share prices rose sharply at the beginning of the year. The K-90 share price index took an abrupt dive, however, when the first earnings reports for 2014 began to appear.
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26.01.2015 12:29

2014: wins and losses in the equity market

The K-90 share price index appreciated by 7% and the OMXI8 by 4.1% in 2014. In terms of investors’ expectations, the year was a weak one – particularly for those with shares in a marked-weighted portfolio.
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21.01.2015 14:54

K-90 to rise 13% in 2015

The outlook is bright for the stock market in 2015. We expect the K-90 share price index to rise by around 13% over the course of the year.
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27.11.2014 13:35

Pension funds step up listed equity holdings

The pension funds now hold, directly and indirectly, at least 38% of issued share capital in domestic companies on the OMXI Main List. This is a slight increase since the beginning of the year, when they held just under 37% of these companies’ market capitalisation.
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13.11.2014 09:44

Negative total returns year-to-date in the Icelandic equity market

The domestic equity market has had a difficult year, with relatively sparse trading and sliding share prices in most instances. ÍSB Research’s K-90 share price index, which reflects share prices of the most heavily traded companies on the Icelandic exchange, has fallen roughly 2% so far this year.
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03.10.2014 13:14

Bleak year for equity holders

2014 will probably be a bleak year for owners of shares listed on the OMX Iceland exchange (OMXI).
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30.09.2014 12:56

Continued inflows into mutual funds; households’ holdings decline

Mutual funds owned shareholdings valued at ISK 73.7bn in August, according to newly published figures from the Central Bank. Listed domestic shareholdings amounted to ISK 57.8bn, or about 10% of listed shares on the OMXICE Exchange Main List at the closing share price for the month of August.
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01.07.2014 15:17

Equity markets in the doldrums

Turnover in the Icelandic equity market totalled only ISK 6.6bn in the first six months of the year, about 2% less than over the same period in 2013.
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07.05.2014 14:26

Share prices down 5% year-to-date

Íslandsbanki Research’s K-90 share price index has decreased by 4.93% year-to-date.
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05.05.2014 14:13

Inflows to mutual funds continue in spite of falling share prices

Share prices were down 5.9% in Q1, according to ÍSB Research’s K-90 index, yet issued unit shares in mutual funds exceeded redemptions by 2,831 over the same period, according to figures from the Central Bank of Iceland (CBI).
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25.04.2014 13:58

Proposed amendment on the Act on Fishing Fees

The Ministry of Industries and Innovation announced on 23 April that a bill of legislation amending the Act on Fishing Fees, which is intended to apply to the upcoming fishing year, had been presented to the Government party caucuses. With respect to returns in the fishing industry, the fishing fee is comparable to that for this year.
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25.04.2014 13:54

Measurement of demersal fish stocks in March 2014 – potential impact on HB Grandi

The Marine Research Institute’s (MRI) measurements of the stocks of cod and other demersal species, published in March, give some indication of what the MRI will recommend in terms of total allowable catches (TAC) for individual species
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09.04.2014 10:30

Stock exchange trading unusually weak in March

Turnover in the equity securities market totalled ISK 16.9bn in March, the lowest since July 2013.
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28.03.2014 13:52

K-90 down 5.5% year-to-date

The stock market has not exactly been a horn of plenty for investors so far this year.
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20.03.2014 14:22

Three new listings expected this year, not six

Last October, we prepared an in-depth appraisal of expected developments in the equity market. At that time, we considered it likely that only three companies – Skipti, Reitir, and Sjóvá – would be listed in 2014.
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20.03.2014 14:19

Pension funds scale down equity market activity early in 2014

Iceland’s pension funds appear to have been less active in the equity market at the beginning of 2014 than they were last year.
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03.03.2014 14:06

Equity market blows hot and cold

The equity market has been quite volatile so far in 2014. The ÍSB Research K-90 index rose 2.3% on the first trading day of the year, and by the end of the third day it had risen 3.4%.
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03.03.2014 14:04

Earnings reports: the biggest week of the year

The last week of February was the most important of the year in terms of financial reporting, with more earnings reports published than in any other week.
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21.02.2014 14:18

K-90 down 2% year-to-date

The K-90 index, which reflects developments in the share price of companies on the OMXI Main List, has fallen by about 2% since the beginning of the year, although individual share prices have had differing effects on the overall index.
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03.02.2014 11:00

Mutual funds double in size

As of December, Icelandic mutual funds had more than doubled in size in the preceding twelve months,
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29.01.2014 13:50

The beta coefficient – volatility quantified

The Capital Asset Pricing Model (CAPM) is frequently used to calculate equity requirements.
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21.01.2014 14:19

Pension funds gain ground in the equity market

Iceland’s pension funds now own 36.6% of the shares in Icelandic companies on the OMXICE Main List, as opposed to 29.0% at the beginning of 2013.
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07.01.2014 15:30

K-90 index rose 34% in 2013

2013 was a very good year for investors in the equity market. Íslandsbanki Research’s K-90 index finished the year at 167.3 points after rising 33.9% since year-end 2012.
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11.12.2013 14:30

Market value near ISK 500 bn.

The total market value of the companies on the OMXICE Main List was ISK 482 bn as of yesterday’s market close. It was ISK 338 bn, at the beginning of the year, and two insurance companies, VÍS and TM, were listed on the market during the spring.
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22.11.2013 13:50

Strong earnings report from Vodafone

Vodafone’s Q3/2013 earnings report, published after the market close on 11 November, shows a strong YoY increase in operating revenues and after-tax profit.
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22.11.2013 13:46

Eimskip on a slow but steady course

Eimskip’s Q3 earnings report was quite good, on the whole, and contains few surprises.
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08.11.2013 14:29

Pension funds and the equity market

The pension funds are by far the most important single group of investors in the Icelandic equity securities market, with at least 35.6% of shares in Icelandic companies (including HB Grandi) on the Main List as of end-October.
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31.10.2013 12:00

Excellent results from Icelandair

Icelandair published its results for the third quarter of 2013 after the closing of markets yesterday. In relation to the same quarter in 2012, there was a substantial increase in operating profits, as well as profits before taxes.
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29.10.2013 12:52

We forecast a 21% rise in Íslandsbanki’s Research K90 Share Index

We forecast a 21% rise in Íslandsbanki’s Research K90 Share Index
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25.10.2013 11:22

Hagar turns in record post-listing performance

Hagar’s Q2/2013 earnings report, released yesterday, was the company’s strongest since its listing on the OMXICE exchange.
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24.10.2013 13:39

Marel returns a disappointing results

Marel’s Q3/2013 earnings report, published after the market close yesterday, was disappointing, even given that the market had tempered its expectations ahead of time
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24.10.2013 13:24

Össur delivers a strong quarter

Össur’s Q3/2013 earnings report, published yesterday, shows strong improvements in the company’s EBITDA margin and, consequently, in its after-tax profit.
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23.10.2013 13:01

Equity market demand

According to lists of the largest shareholders in listed Icelandic firms, the pension funds are the largest single owner group in the domestic equity market, with at least 30.3% of total market value.
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22.10.2013 14:16

Upcoming equity market offerings

So far in 2013, two new firms have been listed on the OMXICE exchange, with a combined market value of ISK 49 bn as of end-September.
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18.10.2013 13:43

Who owns Eimskip?

The market value of Eimskip shares is just under ISK 44.8 bn. The table in the margin lists the 12 largest shareholders in the company and the value of
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17.10.2013 12:01

Groceries turnover weak in September

Groceries turnover fell less markedly than usual between July and August this year. Instead, the expected decline appears to have shifted to September, when grocery sales contracted by 13.4% month-on-month at constant prices.
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07.10.2013 13:21

Reginn buys more properties

The Reginn real estate company managed a portfolio of up to 152 thousand square metres at the end of 2012. On the basis of purchases so far in 2013, the company’s portfolio has currently grown to 187 thousand square metres and has increased by 23%.
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03.10.2013 13:44

Small increases in Icelandic equity market

Over the past 180 days, the Icelandic equity market has risen little in comparison to the markets of our neighbouring countries.
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01.10.2013 15:40

Good turnover in equity market in September

There was a good turnover in the equity market in September, amounting to ISK 19.4 bn.
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