Russians continue to leave FTSE index as Evraz and Polymetal face relegation this week

Russian firms Evraz and Polymetal are both expected to be kicked out of the FTSE 100 index this Wednesday as their stock values follow declining commodity prices.

The two firms have fallen to 149th and 118th by market capitalisation as of 7 June. FTSE rules require that any company falling to 111th position or below is automatically deleted. Any company rising to 90th position or above is automatically added to the FTSE 100.

All the Russian and Kazakhstan-based firms listed on the London Stock Exchange are expected to leave the top FTSE 100 index in the coming month.

Kazakhmys fell out of the FTSE 100 in February after its value dropped by 30 per cent over 2012 while ENRC is expected to go private or get kicked off of the index as too few of its shares are freely tradable. Famously, former ENRC director Ken Olisa called the firm “more soviet than City” when he was voted off the board in 2011.