Russian shares closed higher on Monday, driven by strength in Oil & Gas, Power and Manufacturing sectors that helped lift the MOEX Russia Index. At the close in Moscow, the MOEX Russia Index was up 0.65%.
Leading the winners on the MOEX Russia Index was NOVATEK PJSC (MCX:NVTK), which advanced 5.97% - a gain of 54.20 points - to finish at 962.60. Rosneft PJSC (MCX:ROSN) added 5.64% or 17.50 points, closing at 327.70, while TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) rose 3.66% or 16.10 points to end the session at 456.30.
On the downside, VK Company Ltd (MCX:VKCO) declined 2.38% or 4.00 points to close at 163.95. Federal Hydro Generating Company RusHydro PJSC (MCX:HYDR) slipped 2.13% or 0.01 points to finish at 0.28, and Mobil’nye Telesistemy PJSC (MCX:MTSS) fell 1.62% or 2.90 points to end at 175.90.
Market breadth on the Moscow Stock Exchange showed more rises than falls: 132 stocks advanced compared with 107 that declined, and 12 finished unchanged.
Several names in the session touched notable lows. Shares of VK Company Ltd fell to all-time lows, losing 2.38% or 4.00 to close at 163.95. Federal Hydro Generating Company RusHydro PJSC dropped to five-year lows, down 2.13% or 0.01 to 0.28. Mobil’nye Telesistemy PJSC moved to 52-week lows, sliding 1.62% or 2.90 to 175.90.
The Russian Volatility Index - RVI, which measures implied volatility on MOEX Russia Index options, fell 6.54% to 43.00, signaling a decline in expected near-term swings priced into options on the index.
Commodities and FX were mixed during the session. Gold futures for August delivery dropped 2.55% or 105.05 to $4,008.65 a troy ounce. U.S. crude oil for August delivery climbed 9.23% or 6.59 to reach $78.00 a barrel, while the September Brent contract was up 0.02% or 0.02 at $83.24 a barrel.
Currency pairs involving the ruble were unchanged in the reported figures: USD/RUB was flat at 78.19 and EUR/RUB remained unchanged at 87.23. The U.S. Dollar Index Futures was higher by 0.32% at 101.08.
Summary takeaways from the session include a market lift concentrated in energy and industrial sectors, a fall in implied volatility as measured by the RVI, and notable commodity price moves with crude rising sharply and gold retreating. Market breadth favored advancing issues, but select large-cap names recorded fresh lows during the session.