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@Belgrano - nope the chinese are good people. Stop regurgitating the propaganda you've been fed.

Looks like 140p is next support, now that 153p has gone

It didn't give details in the article but yes I assumed that would be why - funds selling due to index deletion.

@Christopher - "Aside from Blackrock, no ETFs or funds hold greater than 3% of Poly anyway so I think the impact would be minimal"
Estimated impact of $90M in outflows, about 10% of mcap, according to a press article.

Strong support from the trend line for the past few days: https://invst.ly/xnne4

@MassiveRay - "You should apologise for saying it would be delisted offmessage"
Show me where I said it would be delisted? You can't because I didn't.
Now you should apologise for making stuff up.

The facts are that it is being deleted from all indices and this is expected to cause a $90M sell off, about 10% of mcap.

Yeah cos everybody just throws their charts away and trades blindly when things get choppy /sarcasm.

And definitely above 1.52: https://invst.ly/xnjmy

@SP28 - it's not old news based on market cap, that was last week. This is today's news, this morning's in fact, and is to do with liquidity and deletion from all indices.

The level of reading comprehension is shocking.

@fre - yes you're missing something. It says 'it was going to move to the ftse 250 but now that it is being deleted a couple of other small caps will be promoted to the 250 in place of evraz and polymetals', to paraphrase.

@fre1 - go back and read it again, you have misunderstood.

"Anyone up for a fight behind the bins at Poundland Kettering?"
C'mon then, let's av it lol

How do you work out that a $70M outflow will add $70M in cash to Evraz??

It means they expect $70M worth of shares will be sold as a result of being deleted from the indices.

It patently is the case, since there is an official notice from Russell Ftse confirming it.

I imagine the price hasn't dropped because retail investors are jumping in because they don't understand that notice and it's expected impact, as evident by the level of denial and misunderstanding on here.

"POLY will be in the FTSE250 assuming no sanctions come into play"

NO THEY WON'T. THEY ARE BEING DELETED FROM ALL INDICES!!

@Pete640 - That was last week's news. Today's news is that they will be deleted from ALL indices, the ftse100 and the ftse 250 and any others they're a part of.

I was LTH but bailed for a small profit on this morning's news of index deletion. I'll watch how things go through the week and maybe pick some up for the long term if it looks ok.

Here's the official notice: https://research.ftserussell.com/products/index-notices/home/getnotice?id=2603670

Regarding the expected passive outflow, of course that's just experts speculating on what they expect to happen so it only appears in a news story rather than an official notice.

Yes but there's obviously plenty still holding, hence why they estimate $90M worth of outflow as a result of this.