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Russia-exposed miners Polymetal, Evraz lose FTSE status

Russia-exposed miners Polymetal, Evraz lose FTSE status
Russia-exposed miners Polymetal, Evraz lose FTSE status   -   Copyright  Thomson Reuters 2022
By Reuters

– Polymetal and Evraz have lost their spots on the UK’s blue-chip FTSE 100 after shares in the Russia-exposed miners suffered severe losses in response to Western sanctions for Russia’s invasion of Ukraine.

In a statement late on Wednesday, index provider FTSE Russell said gold producer Endeavour Mining and kitchens maker Howden Joinery will replace them on the FTSE 100 from the start of trading on Monday.

Polymetal and Evraz, whose shares are down 77% and 82% so far this year respectively, are demoted to the mid cap FTSE 250 index, it added. The reshuffle was in line with what analysts had expected.