Russian stocks finished the session in negative territory on Tuesday, with losses concentrated in the Mining, Power and Manufacturing sectors and the MOEX Russia Index registering a 0.19% decline to reach a new three-year low.
At the close in Moscow, the benchmark MOEX Russia Index was down 0.19%. Decliners outnumbered advancers on the Moscow Stock Exchange by 136 to 108, while 7 issues finished unchanged.
Top performers
- TATNEFT n.a. V.D. Shashin (MCX:TATN) led gains on the index, rising 4.65% or 20.60 points to finish at 464.00.
- TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) added 4.50% or 18.90 points to close at 439.00.
- T Tekhnologii MKPAO (MCX:T) advanced 3.79% or 9.42 points to end the day at 258.16.
Lagging names
- Moskovskaya Birzha PJSC (MCX:MOEX) was the weakest on the list, declining 3.14% or 5.20 points to settle at 160.15.
- United Company Rusal IPJSC (MCX:RUAL) fell 2.87% or 0.75 to close at 25.40; the stock reached five-year lows during the session.
- PhosAgro PJSC (MCX:PHOR) dropped 2.68% or 135.00 to finish at 4,897.00, a move that brought the share price to 52-week lows.
The Russian Volatility Index - RVI, which tracks the implied volatility of options on the MOEX Russia Index, rose 2.25% to 43.17, indicating an uptick in expected near-term swings for the benchmark.
Commodities displayed mixed performance: Gold Futures for August delivery declined 1.22% or $50.80 to $4,116.70 per troy ounce. In energy markets, crude oil for August delivery gained 5.32% or $3.65 to $72.20 a barrel, while the September Brent contract was up 0.46% or $0.35 to $76.24 a barrel.
On the foreign exchange front, USD/RUB was unchanged at 76.46 and EUR/RUB held steady at 87.25. The US Dollar Index Futures increased 0.23% to 100.85.
Overall, the session was characterized by selective strength in a few oil-related and technology-linked names, offset by broader weakness among mining and industrial names that contributed to the MOEX Russia Index sliding to its lowest closing level in three years.