Stock Markets October 14, 2026 05:20 PM

MOEX Russia Index slips 0.30% as mining, power and oil & gas lag

Broader market softness outweighed gains in select transport and e-commerce stocks at Wednesday's close in Moscow

By Sofia Navarro
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The MOEX Russia Index closed lower on Wednesday, falling 0.30% as losses in the Mining, Power and Oil & Gas sectors weighed on the market. A handful of names, including OZON, Aeroflot and Surgutneftegas, posted gains, while United Company Rusal and GMK Noril’skiy Nikel’ were among the session's largest decliners. Market breadth favored decliners and volatility ticked slightly higher.

MOEX Russia Index slips 0.30% as mining, power and oil & gas lag
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Key Points

  • The MOEX Russia Index closed down 0.30%, with Mining, Power and Oil & Gas sectors leading losses.
  • Top gainers included OZON (MCX:OZON), Aeroflot (MCX:AFLT) and Surgutneftegas (MCX:SNGS); major decliners included RUAL and GMKN.
  • Market breadth favored decliners 150 to 90; the RVI rose modestly to 30.63, while commodities and FX showed mixed moves.

Russian equities finished the Wednesday session in negative territory, with the MOEX Russia Index down 0.30% at the close in Moscow. Sector-level weakness in Mining, Power and Oil & Gas was cited as the primary driver of the market decline.

Top performers

  • OZON (MCX:OZON) led winners on the index, advancing 0.80% or 28.00 points to finish at 3,512.50.
  • Aeroflot PJSC (MCX:AFLT) rose 0.79% or 0.28 points to close at 35.71.
  • Surgutneftegas PJSC (MCX:SNGS) gained 0.78% or 0.13 points to end the session at 16.71.

Largest declines

  • ROSSETI PJSC (MCX:FEES) was unchanged 2.91% or 0.00 points to trade at 0.06 at the close.
  • United Company Rusal IPJSC (MCX:RUAL) fell 2.73% or 0.68 points to finish at 24.25.
  • GMK Noril’skiy Nikel’ PAO (MCX:GMKN) slid 2.38% or 2.80 points to close at 115.60.

On the exchange, decliners outnumbered advancers by a margin of 150 to 90, while 15 issues ended the day unchanged. The Russian Volatility Index - RVI, which measures implied volatility for MOEX Russia Index options, increased 0.13% to 30.63.

Commodity markets saw mixed moves during the session. Gold Futures for December delivery were higher by 0.47% or 19.40, reaching $4,127.30 a troy ounce. In energy markets, crude oil for November delivery rose 1.09% or 1.03 to $95.17 a barrel, while the December Brent contract slipped 0.06% or 0.06 to trade at $106.05 a barrel.

Foreign exchange rates were broadly unchanged against the ruble at the close reported: USD/RUB held steady at 84.64 (0.00%), and EUR/RUB was unchanged at 93.28 (0.00%). The US Dollar Index Futures declined 0.03% to 102.31.


The session highlighted selective strength among transport and e-commerce names, set against broader losses concentrated in extractive and utility sectors. Market breadth and a modest uptick in implied volatility underscored the cautious tone among investors into the close.

Risks

  • Sector concentration of losses in Mining, Power and Oil & Gas suggests vulnerability for companies in those sectors if selling persists - relevant for energy and mining investors.
  • A modest increase in implied volatility (RVI up to 30.63) indicates elevated option-implied uncertainty, which can affect trading strategies and hedging costs for equity portfolios.
  • Divergent moves in commodities - with crude rising and Brent easing, and gold higher - create uncertainty for firms and investors with exposure to commodity prices, particularly in the oil & gas and materials sectors.

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