Stock Markets May 8, 2026 05:20 PM

Moscow market edges lower at close; MOEX Russia Index dips 0.49% to three-month low

Mining, oil and manufacturing sectors weigh as several blue chips retreat and volatility ticks higher

By Caleb Monroe
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Russia's equity market closed lower on Friday, with the MOEX Russia Index falling 0.49% to a new three-month low. Losses were concentrated in the Mining, Oil & Gas and Manufacturing sectors. Market breadth showed more winners than losers, while volatility and commodity price moves added to the trading picture.

Moscow market edges lower at close; MOEX Russia Index dips 0.49% to three-month low
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Key Points

  • MOEX Russia Index fell 0.49% to a new three-month low, with losses concentrated in Mining, Oil & Gas and Manufacturing sectors.
  • Notable stock moves: NOVATEK (MCX:NVTK) +1.74% to 1,144.90; TATNEFT (MCX:TATN_p) +1.70% to 544.00; Novolipetsk Steel (MCX:NLMK) -1.16% to 83.62, hitting a three-year low.
  • Commodities and FX: Gold futures rose to $4,723.70/oz; June crude at $94.68/bbl and July Brent at $100.57/bbl; USD/RUB at 74.40 and EUR/RUB at 87.46.

Russia stocks were lower after the close on Friday, as losses in the Mining, Oil & Gas and Manufacturing sectors pushed the market down.

At the close in Moscow, the MOEX Russia Index declined 0.49% to hit a new 3-months low.

Among individual movers on the MOEX Russia Index, ROSSETI PJSC (MCX:FEES) was listed among the session's best performers, recorded as unchanged 2.44% or 0.00 points to trade at 0.07 at the close. NOVATEK PJSC (MCX:NVTK) advanced 1.74% or 19.60 points to finish at 1,144.90, while TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) rose 1.70% or 9.10 points to 544.00 in late trade.

The day's laggards included Novolipetsk Steel (MCX:NLMK), which fell 1.16% or 0.98 points to trade at 83.62 at the close. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) declined 1.15% or 0.07 points to end at 6.10, and PhosAgro PJSC (MCX:PHOR) was down 0.82% or 55.00 points to 6,669.00.

Market breadth on the Moscow Stock Exchange showed more rising issues than decliners, with 140 stocks up, 102 down and 8 finishing unchanged.

Shares in Novolipetsk Steel (MCX:NLMK) fell to 3-years lows; losing 1.16% or 0.98 to 83.62.

Volatility on the MOEX options market moved higher: the Russian Volatility Index - RVI, which measures the implied volatility of MOEX Russia Index options, was up 0.59% to 25.57.

Commodity and currency moves accompanied equity trading. Gold Futures for June delivery rose 0.27% or 12.80 to $4,723.70 a troy ounce. In energy markets, crude oil for June delivery slipped 0.14% or 0.13 to $94.68 a barrel, while the July Brent contract increased 0.51% or 0.51 to trade at $100.57 a barrel.

On the foreign exchange front, USD/RUB was down 0.33% to 74.40, and EUR/RUB fell 0.08% to 87.46. The US Dollar Index Futures was lower by 0.22% at 97.73.


Summary of the close:

  • MOEX Russia Index declined 0.49% to a new three-month low.
  • Top performers included ROSSETI PJSC (MCX:FEES), NOVATEK PJSC (MCX:NVTK) and TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p).
  • Notable decliners included Novolipetsk Steel (MCX:NLMK), Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) and PhosAgro PJSC (MCX:PHOR).

The trading day closed with mixed signals across equities, commodities and currency pairs, and with implied volatility modestly higher on the MOEX options complex.

Risks

  • Rising implied volatility - the RVI increased 0.59% to 25.57, indicating heightened option-implied uncertainty for the MOEX Russia Index.
  • Continued downside in key industrial names - Novolipetsk Steel fell to three-year lows, reflecting downside risks in the Manufacturing and Mining sectors.
  • Commodity price swings - mixed moves in crude oil and gold could feed through to earnings and sector performance in Oil & Gas and Mining.

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