Russian equities closed slightly stronger on Tuesday, with the MOEX Russia Index adding 0.06% to finish at a fresh one-month high in Moscow. Sector performance was led by gains in Mining, Power and Manufacturing stocks, which underpinned the modest market advance.
The top performers on the MOEX Russia Index during the session included AK ALROSA PJSC (MCX:ALRS), which climbed 4.19% - an increase of 0.90 points - to end the day at 22.37. Magnit PJSC (MCX:MGNT) gained 3.72%, or 68.50 points, closing at 1,908.00. GMK Noril’skiy Nikel’ PAO (MCX:GMKN) rose 3.05%, adding 3.70 points to finish at 125.50.
On the downside, Novolipetsk Steel (MCX:NLMK) was the largest decliner among major names, slipping 1.77% or 1.32 points to close at 73.06. PIK SHb PJSC (MCX:PIKK) fell 1.75%, losing 10.20 points to end the session at 571.80. Federal Hydro Generating Company RusHydro PJSC (MCX:HYDR) decreased 1.58%, or 0.01 points, to finish at 0.34.
Market breadth on the Moscow Stock Exchange skewed negative, with 136 stocks declining versus 106 that advanced, and 12 issues finishing unchanged. The Russian Volatility Index - RVI, which measures implied volatility of options on the MOEX Russia Index, declined 2.36% to 39.30, marking a one-month low.
Commodities trading saw mixed outcomes. Gold futures for December delivery rose 1.07%, adding 43.70 to trade at $4,134.20 a troy ounce. Crude oil for September delivery fell sharply, down 6.47% or $5.20 to $75.14 a barrel, while the October Brent contract inched up 0.13% or $0.10 to $78.85 a barrel.
Foreign exchange rates showed no movement in the two key ruble crosses reported: USD/RUB was unchanged at 81.31, and EUR/RUB held steady at 93.76. The US Dollar Index Futures registered a small decline, down 0.03% to 99.75.
Key points
- MOEX Russia Index closed 0.06% higher, reaching a one-month high, supported by gains in mining, power and manufacturing names.
- Leading individual gains were posted by ALRS, MGNT and GMKN, while NLMK, PIKK and HYDR were among the worst performers.
- Commodity moves were mixed: gold futures climbed, September U.S. crude fell significantly, and October Brent moved slightly higher; implied volatility as measured by the RVI eased to a one-month low.
Risks and uncertainties
- Weak market breadth - more decliners than advancers - could signal uneven participation across sectors, affecting Mining, Manufacturing and Power names.
- Large intraday moves in crude oil prices present downside risk to energy-related and commodity-sensitive stocks if the oil decline persists.
- Although implied volatility fell to a one-month low, unexpected volatility shifts could still affect options pricing and investor positioning in the short term.