MOSCOW, June 13 (RIA Novosti) – Russian metals giants Evraz and Polymetal have dropped out of the UK’s FTSE 100 index following major falls in their stock value, the London Stock Exchange said on Thursday, following a regular index review.
In December 2011, steel-maker Evraz, part-owned by Russian billionaire Roman Abramovich, and Polymetal International, which unites the assets of gold and silver producer Polymetal, became the first Russian companies to join the UK blue-chip FTSE 100 Index.
Over the past quarter, Evraz has lost about a half of its value after a plunge in steel prices, sliding to the 155th place by market capitalization while Polymetal has lost almost 30 percent of its value over plunging gold and silver prices, falling to 121st place.
FTSE rules require that each quarter, any company falling to 111th position or below is automatically deleted from the FTSE 100, subject to confirmation from the exchange.
Evraz and Polymetal will be replaced in the FTSE 100 from June 24 by housebuilder Persimmon and building materials group Travis Perkins whose market capitalization grew by 24 percent and 14 percent respectively over the quarter.
