© Archyde.com/Tatyana Makeyeva
FILE PHOTO. A woman walks past a grocery store owned by Russian retailer Magnit in Moscow, Russia.
By Carolyn Cohn
LONDON, March 4 (Archyde.com) – The London Stock Exchange said on Friday it had suspended trading on all other Russian-listed securities, following suspending most securities earlier this week.
Britain, the European Union and the United States are applying financial sanctions to Russia to prevent its companies from using Western markets to raise funds, prompting exchanges and clearing houses to cut ties with Moscow.
The London Stock Exchange (LSE) on Friday suspended the global depository receipts (GDR) – which represent shares of a foreign company – of eight Russian companies, including Magnit and Sistema, following having frozen on Thursday the operations of 28 firms.
“The London Stock Exchange notes the continued deterioration of market conditions since March 2, 2022 and, in order to maintain order in the markets, the exchange has suspended the admission to trading of the instruments,” it said. it’s a statement.
There are no Russian securities listed on the LSE following Friday’s move.
“This covers all Russian GDRs in our markets,” a spokesman said.
LSE CEO David Schwimmer said on Thursday that the suspension of the rest of the companies would depend on further sanctions or a failure to maintain an orderly market.
(Reporting by Carolyn Cohn and Huw Jones; edited in Spanish by Benjamín Mejías Valencia)
