The London Stock Exchange has suspended trading in the eight remaining “Russian stocks” after an initial halting on the trading of companies with links to the Russian state yesterday.
Yesterday the LSE said it was suspending trading “in light of market conditions, and in order to maintain orderly markets”.
The suspensions have been given to those based in Russia, but trade financial instruments rather than ordinary shares in London.
Today’s suspensions include grocer Magnit and investment group Sistema.
“The London Stock Exchange notes the ongoing deterioration of market conditions since March 2, and in order to maintain orderly markets, the exchange has suspended the admission to trading of the instruments,” it said in a statement.
Russian companies listed in London have been in freefall since the country’s invasion of Ukraine, including a 95% fall in both Gazprom and Sberbank.
London Stock Exchange Group PLC (LSE:LSEG) said in its earnings update this week that its business in Russia and Ukraine accounted for less than 1% of its total income.