Fannie and Freddie bolster Iceland stock exchange reports that the OMX-NASDAQ stock exchange in Iceland took an upswing yesterday in response to positive economic news from the USA.

Stock markets all over the world went into positive territory on the back of news that US authorities would take over the loan funds Fannie Mae and Freddie Mac, the country’s two biggest mortgage lenders and underwriters.

The OMX Iceland 15 rose by 1.35 percent with all but one listed company increasing in price.

The sole exception was the shipping company, Eimskip, which saw a drop of 16.5 percent amid investor fears that the company’s sale of XL Leisure Group would not complete successfully and that the company would be left responsible for a EUR 141 million (USD 200 million) loan.

The co-Nordic OMX selected shares index swung up by 2.77 percent yesterday, the British FTSE by 3.92 percent and the American Dow Jones by 2.59 percent.