Russian miners are set to be the main losers in the latest FTSE 100 reshuffle, which is determined tonight.
The plunge in the value of gold miner Polymetal International PLC and steel maker Evraz PLC (LSE:EVR) (Evraz PLC (LSE:EVR)) - down another 27.1% and 16.65% today respectively - means that both are unsurprisingly set to lose their berths in the leading UK index.
The quarterly FTSE changes will be based on tonight's closing prices, and there is no way that either will regain enough ground to remain in the FTSE 100.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown said: "Instead of a gentle reshuffling of cards in the FTSE review, the conflict in Ukraine has thrown the pack up in the air, with Russian miners plummeting down in value."
Their likely replacements are gold producer Endeavour Mining PLC and kitchen group Howden Joinery Group.
Royal Mail PLC (LSE:RMG) is also teetering on the brink of relegation from the blue-chip index.
Should it fall out once more, there are two companies that are vying to return to the top flight, British Gas owner Centrica PLC and easyJet.
Centrica is currently down 0.72% while easyJet has dropped 4.93% on concerns about travel while war is raging in Ukraine.
By: Nick Fletcher (Proactive Investors).
Image: Mining World, Russia.
Broadcast: FM.