FTSE Russell has announced the delisting of four Russia-focused firms listed in the United Kingdom as the trading activity for such stocks declined, Reuters reported.
- The four stocks to be delisted are Roman Abramovich’s Evraz, Polymetal International, Petropavlovsk, and Raven Property Group which would all be removed from all indexes with the March review.
- FTSE Russell noted that brokers avoided such securities, which impacted market liquidity, as trading was “severely restricted.” The removal is in a bid to avoid index trackers from doubling the inclusion of the stocks within its indexes.
- The changes in the indexes will include the addition of NB Private Equity partners and Standard Life Private Equity Trust, with Evraz and Polymetal International already earlier scheduled to be removed from the FTSE 100.
Some ten members of Evraz’s board quit just last week after its shares were suspended and Abramovich penalized. EVR.L is down 12.59%, POLY.L up 2.39%, POG.L up 8.36%, and RAV.L down 14.62%.