Stock Markets June 2, 2026 05:20 PM

MOEX Russia Index Closes Up 1.94% as Mining, Power and Oil & Gas Names Lead Gains

Broad advance on Moscow bourse propelled by strong moves in Rusal, Norilsk Nickel and PhosAgro; banks and airline names lag

By Nina Shah

The MOEX Russia Index advanced 1.94% at Tuesday's close in Moscow, supported by notable gains in the mining, power and oil & gas sectors. United Company Rusal, GMK Noril’skiy Nikel’ and PhosAgro were among the session's strongest performers, while Bank VTB, Aeroflot and Moskovskiy Kreditnyi Bank were the largest decliners. Market breadth favored risers by a wide margin, and the Russian Volatility Index rose modestly.

MOEX Russia Index Closes Up 1.94% as Mining, Power and Oil & Gas Names Lead Gains

Key Points

  • MOEX Russia Index rose 1.94% at the close in Moscow, led by Mining, Power and Oil & Gas stocks.
  • Top individual gainers were United Company Rusal (+8.27%), GMK Noril’skiy Nikel’ (+5.95%) and PhosAgro (+3.53%).
  • Bank VTB, Aeroflot and Moskovskiy Kreditnyi Bank were among the session's largest decliners; market breadth favored advancing issues by 207 to 40.

Russia's stock market ended Tuesday's trading session in positive territory, with the MOEX Russia Index finishing 1.94% higher at the close in Moscow. Sector strength in Mining, Power and Oil & Gas pushed many individual names up, contributing to the broader advance.


Top movers

On the winners' list, United Company Rusal IPJSC (MCX:RUAL) led gains, rising 8.27% - an increase of 2.93 points - to close at 38.40. GMK Noril’skiy Nikel’ PAO (MCX:GMKN) followed, adding 5.95% or 7.50 points to end the day at 134.00. PhosAgro PJSC (MCX:PHOR) also contributed to the market's lift, finishing up 3.53% or 215.00 points at 6,298.00 in late trade.

Largest decliners

Not all names participated in the rise. Bank VTB PJSC (MCX:VTBR) fell 0.56% or 0.44 points to finish at 77.82, while Aeroflot PJSC (MCX:AFLT) declined 0.27% or 0.13 points to close at 47.45. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) ended the session down 0.18% or 0.01 points at 7.57.


Market breadth and volatility

Advancing stocks outnumbered decliners on the Moscow Exchange by 207 to 40, with 4 issues unchanged. The Russian Volatility Index - RVI, which measures implied volatility for options on the MOEX Russia Index, rose 1.78% to 23.97.


Commodities and currencies

Precious and energy markets registered gains alongside equities. Gold Futures for August delivery climbed 0.29% or 13.15 to $4,519.45 a troy ounce. In crude markets, July delivery crude oil increased 1.33% or 1.23 to $93.39 a barrel, and the August Brent contract ticked up 0.06% or 0.06 to trade at $95.83 a barrel.

On the currency front, USD/RUB was unchanged at 73.01 and EUR/RUB remained unchanged at 84.91. The US Dollar Index Futures was slightly higher by 0.02% at 99.17.


This session's moves underscored a broad-based uplift across resource-linked sectors, while select financial and travel-related names lagged. Volume and further session-level detail were not provided.

Risks

  • Rising implied volatility as measured by the RVI - up 1.78% to 23.97 - may signal increased option market uncertainty, which can affect market liquidity and hedging costs.
  • Select financial and travel-related equities underperformed (Bank VTB, Moskovskiy Kreditnyi Bank, Aeroflot), indicating sector-specific pressure that could weigh on the financials and airline sectors.

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