“The results of our consultation indicate that we will remove all stocks listed or domiciled in Russia from our standard indices (…) from Wednesday March 9.”
Stock index provider S&P Dow Jones said on Friday it was removing shares of Russian companies traded on the US market from its indices.
Given the heavy sanctions taken against Russia and while trading in the securities of Russian companies has been suspended on the NYSE and the Nasdaq since the Russian invasion, S&P Dow Jones had organized a consultation with the participants of the market to see if it should remove Russian stocks from its indexes, according to a statement.
“The results of our consultation indicate that we will remove all stocks listed or domiciled in Russia from our standard indices (…) from Wednesday, March 9,” said an S&P spokeswoman on Friday.
A number of Russian securities are included in indices managed by S&P Dow Jones such as the Dow Jones Emerging Markets Select Dividend index, where the weight of Russian equities is 10.3%, or the S&P BRIC Equal country Weight Index, where the securities weigh 7.7%.