NYSE, Nasdaq halt trading of Russia-based companies

Portfolio manager warns don’t make ‘precipitous decisions in such a fast moving market’

UBS Managing Director and senior portfolio manager Jason Katz argues the situation overseas and the economic repercussions ‘exacerbates what is already a very challenging position for the Fed.’  

The New York Stock Exchange and the Nasdaq MarketSite have temporarily halted trading in select Russian companies listed on their respective exchanges. 

Per a notice with the NYSE, the listed companies are Mechel PAO, American Depositary Shares – each representing two ordinary shares – and Mobile TeleSystems Public Joint Stock Company and Cian PLC American Depositary Shares, each representing one ordinary share. 

RUSSIA-UKRAINE: LIVE UPDATES

TickerSecurityLastChangeChange %
CIANCIAN PLC3.40+0.09+2.72%
MTLMECHEL OAO2.25-0.05-2.17%
MBTMOBILE TELESYSTEMS5.50-0.52-8.64%

Sources familiar with exchanges tell FOX Business the halts, which can be used for unusual trading in any security, will allow time for officials to review the fast-moving developments impacting the shares. 

US EFFECTIVELY FREEZES RUSSIAN CENTRAL BANK ASSETS HELD BY

TickerSecurityLastChangeChange %
YNDXYANDEX NV18.94-1.38-6.79%
OZONOZON HOLDINGS PLC11.60-1.03-8.16%
GDEVNEXTERS6.38-0.12-1.85%
QIWIQIWI PLC5.67+0.51+9.88%
HHRHEADHUNTER GROUP PLC15.03+0.04+0.27%

At the Nasdaq, stocks included are Yandex, known as Russia's Google, and online retailer Ozon, as well as Nexters and QIWI and Head Hunter Group.

 MOSCOW SUSPENDS STOCK TRADING FOR DAYS

A Nasdaq spokesperson tells FOX Business the companies have been contacted and asked for information material to the ongoing situation between Russia and Ukraine and how it may impact business. 

TickerSecurityLastChangeChange %
ICEINTERCONTINENTAL EXCHANGE INC.127.32-1.12-0.87%
NDAQNASDAQ INC.169.90-2.82-1.63%

Officials at the NYSE, which is owned by Intercontinental Exchange, declined to comment. 

Russia's invasion of Ukraine has created extreme volatility across equities and other asset classes including oil and gold. 

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