The UK’s main stock market indexes slumped on Thursday, mirroring a sharp sell-off in worLd equities, as investors dumped risky assets after Russia launched an all-out invasion of Ukraine.
The benchmark FTSE 100 index (.FTSE) dropped 2.7% in morning trade,
Losses on the commodity-heavy FTSE 100 were smaller than its European peers
Russia-exposed miners such as EVRAZ
plummeted between 16.6% and 43.5%, while London-listed depository shares of Russian bank Sberbank Rossii
The FTSE 100 has outperformed European indexes so far this year after underperforming for five years, helped by a jump in commodity stocks due to geopolitical tensions and strength in financial shares as central banks raise interest rates to combat inflation in the wake of the coronavirus pandemic.