Russian stocks closed lower on Tuesday as sector-specific weakness in Mining, Power and Oil & Gas pressured the benchmark. At the Moscow close, the MOEX Russia Index fell 0.24%, finishing at a six-month low.
On the winners list, United Company Rusal IPJSC (MCX:RUAL) led gains on the MOEX Russia Index, advancing 1.30% - or 0.44 points - to finish at 33.88. Rosneft PJSC (MCX:ROSN) added 0.72% - or 2.80 points - closing at 390.00, while Transneft PJSC Pref (MCX:TRNF_p) rose 0.49% - or 7.00 points - to 1,403.00 in late trade.
Among the biggest losers, Bank VTB PJSC (MCX:VTBR) recorded a steep drop of 7.38% - or 6.40 points - ending the session at 80.26. E-commerce firm OZON (MCX:OZON) slipped 3.65% - or 151.00 points - to close at 3,986.00, and Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) fell 3.37% - or 0.83 points - to 23.84.
Declining issues outnumbered advancing ones on the Moscow Stock Exchange by 205 to 43, with 3 names unchanged at the close.
Shares of Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) moved to three-year lows, losing 3.37% - or 0.83 - to finish at 23.84.
The Russian Volatility Index - RVI, which measures the implied volatility of MOEX Russia Index options, ticked up 0.09% to 23.17.
Commodities traded lower during the session. Gold Futures for August delivery declined 0.32% - or 14.80 - to $4,541.60 a troy ounce. In energy markets, Crude oil for July delivery fell 3.14% - or 3.03 - to $93.57 a barrel, while the August Brent contract slipped 0.32% - or 0.31 - to trade at $96.33 a barrel.
Currency quotes were effectively flat: USD/RUB was unchanged at 72.00 and EUR/RUB remained unchanged at 83.74. The US Dollar Index Futures moved lower by 0.11% to 99.08.
Market context and breadth
The market breadth clearly favored decliners, with more than four times as many stocks falling as rising. Losses in Mining, Power and Oil & Gas were the primary drivers of the benchmark's retreat, while selective gains were recorded among major state-controlled and resource-linked names.
What moved the tape
- Rising stocks: RUAL, ROSN, TRNF_p posted modest advances.
- Notable declines: VTBR, OZON, MAGN were among the session's largest percentage losers, with MAGN hitting three-year lows.
- Commodities: Both gold and crude oil futures fell, contributing to the negative tone in resource-sensitive names.