Stock Markets September 8, 2026 05:20 PM

Moscow shares close higher as oil and telecoms lift MOEX - Index up 0.46%

Energy names lead gains while metal producers drag; oil, gold and FX show mixed moves

By Derek Hwang
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MAGN

Russian equities finished the session higher, with the MOEX Russia Index up 0.46% as gains in the Oil & Gas, Manufacturing and Telecoms sectors supported the market. Notable winners included TATNEFT ordinary and preferred shares and Surgutneftegas, while Magnitogorskiy Metallurgicheskiy Kombinat and Magnit lagged. Market breadth favored decliners, and volatility edged up alongside mixed moves in commodities and FX.

Moscow shares close higher as oil and telecoms lift MOEX - Index up 0.46%
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Key Points

  • MOEX Russia Index closed up 0.46%, led by gains in Oil & Gas, Manufacturing and Telecoms sectors.
  • Top individual performers included TATNEFT ordinary (+3.83%), Surgutneftegas (+3.34%) and TATNEFT preferred (+3.29%); major laggards were MAGN (-2.75%) and MGNT (-2.01%).
  • Market breadth favored declining issues (136 down, 107 up, 12 unchanged); the RVI rose 0.65% to 37.34, and commodities moved mixed with crude oil higher and gold lower.

Russian stocks closed higher on Tuesday in Moscow, driven by advances in Oil & Gas, Manufacturing and Telecoms. The MOEX Russia Index ended the session with a gain of 0.46%.


Top performers

  • TATNEFT n.a. V.D. Shashin (MCX:TATN) led gains, finishing up 3.83% or 22.70 points at 614.70.
  • Surgutneftegas PJSC (MCX:SNGS) added 3.34% or 0.53 points to close at 16.41.
  • TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) rose 3.29% or 18.80 points to 591.00 in late trade.

Largest decliners

  • Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) fell 2.75% or 0.65 points, ending the day at 23.03.
  • ROSSETI PJSC (MCX:FEES) was recorded as unchanged 2.04% or 0.00 points to end at 0.05.
  • Magnit PJSC (MCX:MGNT) slipped 2.01% or 34.00 points to 1,655.00.

On the Moscow Stock Exchange, declining issues outnumbered advancing ones by 136 to 107, while 12 stocks finished unchanged.


Volatility and indices

The Russian Volatility Index - RVI, which tracks implied volatility for options on the MOEX Russia Index, moved higher by 0.65% to 37.34.


Commodities and energy

  • Gold Futures for December delivery fell 1.71% or 76.60 to $4,400.00 a troy ounce.
  • Crude oil for October delivery strengthened 3.03% or 2.77 to $94.25 a barrel.
  • The November Brent oil contract rose 0.01% or 0.01 to trade at $99.33 a barrel.

Foreign exchange and related benchmarks

  • USD/RUB was unchanged at 85.85 (0.00%).
  • EUR/RUB was unchanged at 99.79 (0.00%).
  • The US Dollar Index Futures was reported down 0.34% at 98.82.

Market-level Summary: the MOEX Russia Index finished higher amid sector-specific strength in oil and telecom-related names, while select industrial and retail names underperformed. Volatility showed a modest uptick and commodity prices moved unevenly, with crude oil higher and gold lower.

Risks

  • Market breadth showed more decliners than advancers (136 vs. 107), indicating uneven participation across sectors - this could weigh on broader market momentum.
  • An uptick in implied volatility (RVI +0.65% to 37.34) signals increased option-market uncertainty, which can affect risk-sensitive sectors like Financials and Industrials.
  • Divergent commodity moves—crude oil higher while gold fell—could create cross-market volatility that impacts energy-linked equities and currency pairs (USD/RUB, EUR/RUB).

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