Russian stock markets ended the trading day in negative territory on Thursday, weighed down by sector-wide weakness in Oil & Gas, Power and Mining. At the close in Moscow the MOEX Russia Index fell 1.62% and registered a new three-years low.
Among individual movers, Transneft PJSC Pref (MCX:TRNF_p) was the session's top performer on the MOEX Russia Index, finishing up 3.04% or 36.00 points at 1,235.00. Bank VTB PJSC (MCX:VTBR) also ticked higher, gaining 0.25% or 0.16 points to close at 64.77. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) finished unchanged at 1,083.80.
On the downside, Mobil’nye Telesistemy PJSC (MCX:MTSS) recorded the steepest decline, dropping 13.37% or 28.05 points to end the session at 181.75. Moskovskaya Birzha PJSC (MCX:MOEX) fell 9.80% or 16.05 points to 147.75, while Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) declined 9.33% or 0.78 points to 7.58.
Market breadth on the Moscow Stock Exchange was lopsided: 183 stocks fell, 59 advanced and 9 finished unchanged.
Several names hit 52-week lows during the session. Mobil’nye Telesistemy PJSC (MCX:MTSS) fell to a 52-week low at 181.75, down 13.37% or 28.05. Moskovskaya Birzha PJSC (MCX:MOEX) also moved to a 52-week low, declining 9.80% or 16.05 to 147.75. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) remained unchanged at 1,083.80, which is also a 52-week low for the security.
Volatility measures reflected the market deterioration. The Russian Volatility Index - RVI, which tracks implied volatility of MOEX Russia Index options, rose 7.87% to 45.53, marking a six-month high.
Commodity markets were mixed during the session. Gold futures for August delivery were up 1.23% or 50.25 to $4,132.65 a troy ounce. In energy markets, crude oil for August delivery (WTI) fell 2.33% or 1.71 to $71.81 a barrel, while the September Brent contract rose 0.17% or 0.13 to $76.19 a barrel.
Currency pairs involving the Russian ruble were unchanged at the close: USD/RUB stood at 76.16 and EUR/RUB at 87.05, each showing 0.00% change. The US Dollar Index Futures was down 0.03% at 100.73.
Summary
Thursday's trading saw Russian shares weaken broadly, driven by declines in extractive and utilities sectors and accompanied by a rise in implied market volatility. Several large-cap names hit 52-week lows while commodities displayed divergent moves: gold rose, WTI fell and Brent edged up slightly. Currency pairs involving the ruble were flat at the close.
Key points
- MOEX Russia Index closed down 1.62% at a new three-years low, reflecting broad selling pressure across key sectors.
- Market breadth favored decliners: 183 stocks fell, 59 advanced and 9 were unchanged; the RVI climbed to 45.53, up 7.87% and a six-month high.
- Notable individual moves included MTSS down 13.37% to 181.75, MOEX down 9.80% to 147.75, and TRNF_p up 3.04 to 1,235.00.
Risks and uncertainties
- Elevated implied volatility - The RVI's 7.87% increase to a six-month high signals greater option-implied market uncertainty, which may affect trading in equities and derivatives.
- Concentrated sector weakness - Losses in Oil & Gas, Power and Mining could amplify downward pressure on related companies and sector-linked instruments.
- Single-name downside - Sharp declines in major listings such as MTSS, MOEX and CBOM introduce idiosyncratic risks for portfolios with concentrated exposure to these securities.
This report presents the market moves, key metrics and notable individual share performance based on the session's close. It does not offer investment advice.