Source:
Daily TelegraphThe suspension covers trading in all financial instruments issued by Kaupthing, Landsbanki, Glitnir, the Icelandic lender bailed out by the government after its short-term funding dried up, Straumur-Burdaras, Exista and Spron.
Iceland's Financial Services Authority requested the move, the OMX Nordic Exchange in Iceland said. The exchange said: "This decision is made in order to safeguard the equality of investors while awaiting an announcement.''
Iceland's prime minister Geir Haarde has confirmed the country's major banks have agreed to "sell their foreign assets and decrease their activity abroad", as pressure mounted for the government to secure a rescue deal for its ailing financial system.
At a midnight press conference last night, he said no decisions about an economic bail-out had been made "at this time". He then convened all Icelandic MPs at the parliament building to discuss more options into the early hours of the morning.
Read more:
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3144756/Trading-in-Icelandic-banks-halted-pending-announcement.html