Russian stocks in London continue to collapse as Sberbank trades for a penny

The dollar-denominated secondary listings of Russian companies continued to plunge on the London Stock Exchange on Wednesday, as the local Russian stock market remained shut for a third day. Lukoil shares dropped 93%, Novatek dropped 77% and Rosneft Oil collapsed by 58%. X5 Retail , however, surged 58%. Sberbank , Russia’s number-one lender, traded as low as a penny.

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