Overview
Russian equities finished the trading day in positive territory on Wednesday, led by strength in the Power, Oil & Gas and Mining sectors. At the Moscow close, the MOEX Russia Index recorded a 2.06% gain.
Top movers
The leading performers on the MOEX Russia Index were VK Company Ltd (MCX:VKCO), which increased 5.94% - a rise of 8.40 points - to close at 149.90. Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN) added 5.92% - up 1.17 points - to finish at 20.83. Novolipetsk Steel (MCX:NLMK) rose 5.69% or 3.94 points, ending the session at 73.20.
On the downside, Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) fell 0.88% - down 0.08 points - to 9.03 at the close. PIK SHb PJSC (MCX:PIKK) declined 0.62% or 3.60 points to 576.40. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) was unchanged on the day, trading at 1,083.80; the security remained at 52-week lows.
Market breadth and volatility
Rising issues outnumbered decliners on the Moscow Stock Exchange by 229 to 17, with 7 stocks finishing unchanged. The Russian Volatility Index - RVI, which measures implied volatility on MOEX Russia Index options, dropped 10.30% to 42.69.
Commodities and currencies
Commodities showed mixed moves. Gold Futures for August delivery were up 0.67% - rising 27.05 - to $4,065.75 a troy ounce. Crude oil for September delivery jumped 6.39% or $4.93 to $82.10 a barrel. By contrast, the October Brent oil contract slipped 0.06% or $0.05, trading at $88.06 a barrel.
On currencies, USD/RUB was unchanged at 79.85 and EUR/RUB was unchanged at 91.53. The US Dollar Index Futures traded lower, down 0.58% at 100.68.
Implications
The session saw concentrated gains among specific heavy-industry and energy-related names, while volatility as measured by the RVI eased. Commodity prices moved unevenly, with a notable rise in crude futures and a modest decline in Brent.