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Russian retreat from FTSE 100 extended with relegated metals firms
June 12, 2013 / 5:00 PM / in 4 years

Russian retreat from FTSE 100 extended with relegated metals firms

* Evraz, Polymetal demoted from FTSE 100

* Travis Perkins, Persimmon promoted to FTSE 100

* Russian gold miner Petropavlosk relegated to small caps

* FTSE reshuffle effective after UK close on June 21

By David Brett

LONDON, June 12 (Reuters) - Russian companies’ exodus from the FTSE 100 was confirmed on Wednesday after precious metals miner Polymetal and steelmaker Evraz were relegated to the UK’s FTSE 250 index.

All changes will be effective after the UK market closes on June 21.

The departure of Evraz and Polymetal after less than two years in the top flight and Russian gold miner Petropavlosk to the small caps from the FTSE 250, leaves questions over relations with investors, following troubles at Kazakh miner ENRC and Indonesia-focused Bumi.

Replacing the Russian metals firms in the FTSE 100 will be Britain’s biggest supplier of building materials, Travis Perkins , and housebuilder Persimmon, which have been lifted by recent UK government initiatives to boost the housing market.

In the same vein, Housebuilder Crest Nicholson is promoted to the FTSE 250 from the small cap index along with estate agency Countrywide, insurer Esure, business support services group DCC and printing technology company Xaar.

As a result of Xaar’s promotion to the FTSE 250, Heritage Oil is deleted from the FTSE 250 as it is the lowest ranked FTSE 250 stock, along with asset manager Dexion Absolute Sterling, customer management solutions provider SDL , explorer New World Resources and Petropavlosk.

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