FTSE excludes Evraz, Polymetal, Petropavlovsk from indices from Fri - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

FTSE excludes Evraz, Polymetal, Petropavlovsk from indices from Fri

MOSCOW, Mar 14 (PRIME) -- Index provider FTSE will exclude the shares of Russian metals producer Evraz and gold producers Polymetal International and Petropavlovsk Plc from all of its indices v after the closure of trade on Friday, VTB Capital said in a research note on Monday.

The exclusion will lead to an outflow of U.S. $90 million of passive investment from the shares of Polymetal, an outflow of $9 million from Petropavlovsk, and a loss of $70 million for Evraz.

FTSE made the decision after consultations with external consultants and the market players. The possibility to buy and sell the shares of the companies dropped rapidly after foreign brokers stopped supporting trade in the securities. It causes low liquidity and low market depth for the institutional investors and prohibits the index funds to support the share of the securities in their portfolios at the level of their share in the FTSE indices, analysts of VTB Capital said.

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14.03.2022 12:20
 
 
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