Markets at close
Russian equities ended the session lower overall on Saturday, although the headline MOEX Russia Index finished unchanged at 0.00% and recorded a new six-month low at the close in Moscow. The source report indicated that sectors led shares, but the specific sectors were not identified in the provided material.
Top movers
- Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) was the top performer on the MOEX Russia Index, rising 1.87% or 0.14 points to close at 7.48.
- Federal Hydro Generating Company RusHydro PJSC (MCX:HYDR) advanced 0.92% - the report lists this as unchanged 0.92% or 0.00 points to end at 0.39.
- Mobil’nye Telesistemy PJSC (MCX:MTSS) climbed 0.64% or 1.45 points to finish the session at 228.85.
Lagging names
- PhosAgro PJSC (MCX:PHOR) was the weakest stock referenced, dropping 2.11% or 132.00 points to close at 6,119.00.
- AFK Sistema PJSC (MCX:AFKS) declined 0.32% or 0.04 points to end at 12.02.
- Rostelekom PJSC (MCX:RTKM) slipped 0.32% or 0.16 points to 50.46.
Breadth and notable levels
On the Moscow Stock Exchange, rising issues outnumbered decliners by 120 to 102, while 14 stocks finished unchanged. The report also noted that shares in Rostelekom fell to 52-week lows, with the stock dropping 0.32% or 0.16 to 50.46.
Volatility and indicators
The Russian Volatility Index - RVI, which gauges the implied volatility of MOEX Russia Index options, was unchanged at 0.00% to 22.73.
Commodities and energy
- Gold futures for August delivery rose 1.34% or 60.60 to $4,593.00 a troy ounce.
- Crude oil for July delivery fell 1.73% or 1.54 to $87.36 a barrel.
- The August Brent contract declined 1.70% or 1.58 to trade at $91.12 a barrel.
Foreign exchange and dollar
FX moves included USD/RUB down 0.15% to 71.00 and EUR/RUB falling 0.08% to 82.79. The US Dollar Index Futures was reported down 0.12% at 98.85.
Summary
The MOEX Russia Index closed unchanged at 0.00%, touching a new six-month low. Market breadth was modestly positive, with 120 advancers versus 102 decliners and 14 unchanged. Top performers included Moskovskiy Kreditnyi Bank, RusHydro and Mobile TeleSystems; notable decliners were PhosAgro, AFK Sistema and Rostelekom, with the latter hitting a 52-week low. Commodity moves were mixed, with gold up and both WTI and Brent crude lower; FX showed modest RUB appreciation versus both the dollar and euro. The RVI remained steady at 22.73.
Key points
- MOEX Russia Index finished unchanged at 0.00%, marking a six-month low - equity index performance.
- Banking and utilities names such as Moskovskiy Kreditnyi Bank and RusHydro were among session gainers while commodity and telecom-linked names like PhosAgro and Rostelekom underperformed - sector dispersion within the market.
- Commodities and FX moved during the session: gold futures rose, crude oil contracts fell, and USD/RUB and EUR/RUB declined slightly - impacts on energy and FX-sensitive sectors.
Risks and uncertainties
- Stock-specific volatility: significant declines in names such as PhosAgro (down 2.11%) and the 52-week low in Rostelekom introduce company-level risk for portfolios with concentrated exposure to these issuers.
- Commodity price swings: the session saw divergent moves with gold up and crude benchmarks down, creating uncertainty for energy and materials sectors that are sensitive to commodity prices.
- Market breadth and index level risk: although advancers outnumbered decliners, the MOEX Russia Index still recorded a new six-month low, indicating potential persistent downside risk at the index level.