FTSE Russell, MSCI remove stocks, bonds from indices

 

FTSE Russell, MSCI remove stocks, bonds from indices

Feedback from market participants confirmed the Russian market has become ‘uninvestable’ after trading suspension, restrictions on non-residents

Russia faces an onslaught of Western sanctions after it invaded Ukraine on February 24; trading on Moscow Exchange suspended

Russian assets are facing further isolation by money managers as index compilers FTSE Russell and MSCI prepare to remove the nation’s stocks and bonds from their emerging-market benchmarks.

FTSE Russell will delete Russian securities from its equity indices from March 7 while MSCI will move Russian securities to “Standalone Market” status from “Emerging Markets” on March 9, measures that are likely to devastate the local market and economy.