Polymetal International and Evraz’s share price dropped 26.9% and 27.9%, respectively, ahead of their removal from FTSE 100 in the index’s quarterly review.

With volatility reaching peaks, the FTSE 100 is up 0.9% today, supported by commodities stocks, as oil and metal prices soar on concerns about supply issues. Oil majors Shell and BP Plc climbed 3.8% and 3.1%, respectively, while miners Rio Tinto and Glencore advanced 3%.

In other news, Aviva announced today that it will acquire Succession Wealth for 385 million pounds to strengthens its position in the UK.

The Weir Group posted a rise in pretax profit for 2021, but this was below its own guidance. Meanwhile, Hiscox on Wednesday reported a swing to a pretax profit for 2021 and said that it expects to close 2022 as a good year.

 

Things to read today:

War in Ukraine: when political risks upturn commodity markets (Financial Times)

How the Russia-Ukraine War Threatens the Dollar's Dominance (Bloomberg)