UK Stocks

Polymetal and Evraz demoted from FTSE 100

FTSE reshuffle sees mining giants drop to the FTSE 250 index.

Mining giants Polymetal (LON: POLY) and Evraz (LON: EVR) have been demoted from the UK’s FTSE 100 index after shares in the Russia-exposed miners plummeted in response to Western sanctions imposed in response to Russia’s invasion of Ukraine.

Index provider FTSE Russell announced late Wednesday that gold producer Endeavour Mining and kitchens maker Howden Joinery will replace the Anglo-Russian companies on the FTSE 100 starting Monday.

Polymetal and Evraz, whose stocks have fallen 77 % and 82% this year, respectively, have been downgraded to the mid-cap FTSE 250 index.

Petropavlovsk plc (LON: POG)), a London-based gold mining company with operations in Russia, has been dropped from the FTSE 250, nearly two years after joining. The ongoing Ukraine crisis has seen Petropavlovsk’s share price collapse 88.8%, from 16 pence per share on 17 February 2022 to 1.8 pence per share on 3 March 2022.

Former outsourcing and professional services firm Capita plc (LON: CPI), whose share price has progressively decreased more than 97.3 % from the 2015 heights of 795.17 pence per share to 21.14 pence per share as of March 8, 2022, is also departing from the FTSE 250.

Others exiting the FTSE 250 include Cineworld Group, Reach plc and Baillie Gifford.

New FTSE 250 constituents include Clipper Logistics, Ruffer Investment Company, Temple Bar Investment Trust, Tullow Oil and Urban Logistics REIT.

Read More:

Not Investment Advice Note: Views expressed are those of the writer. The author does not own any stocks mentioned. The article is information, not advice. Share prices can rise and fall. Past returns are not a guide to the future. Please do your own research.