The FT is reporting, that due to the Russian invasion of Ukraine and impact on Russian stocks, Stoxx the operator of Deutsche Borse's Qontigo indices , would cut 61 Russian companies from its indices.
The list includes most leading Russian companies such as Gazprom, Lukoil, Sberbank, X5 Retail and Auroflot.
Stoxx said that "extreme are exceptional market conditions" affecting the Russian stocks including "restrictions on capital flows and market disruption that materially negatively influences the aggregate liquidity, capitalization or tradability of Russian securities, as well as the impossibility for institutional investors to physically replicate the performance of an index", due to the the sanctions from the EU, US, and UK, led to the decision.
Below are a list of some Russian stocks and their changes today. Those declines, do not include the falls seen yesterday.
Below is the MSCI Russian ETF price action. The price today continued to run to the downside and has now declined 75% from the October 2021 high. It is down -68% from the February 10 high.
