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Shares of Russian mining companies Evraz, Polymetal and Petropavlovsk will be excluded from the indices of the global index provider FTSE, Finmarket reports citing a review by VTB Capital strategists Daria Batyshkina and Andrey Kuznetsov.
According to the review, this change will take effect from March 18th. It will take effect after the close of trading.
Experts estimate the passive outflow of capital from the shares of Polymetal and Petropavlovsk at $90 million and $9 million, respectively. Passive outflow from Evraz shares at the resumption of trading on the LSE may amount to about $70 million.
Note that the global index provider FTSE announced the exclusion of Russia from all its indices on March 3rd.
On February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, EU, UK, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
