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

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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 LKOD, -95.26% shares dropped 93%, Novatek NVTK, -95.60% dropped 77% and Rosneft Oil ROSN, -69.07% collapsed by 58%. X5 Retail FIVE, +0.24%, however, surged 58%. Sberbank SBER, -91.86%, Russia’s number-one lender, traded as low as a penny.

This article was originally published by Marketwatch.com. Read the original article here.

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