Stock Markets May 14, 2026 05:20 PM

MOEX Russia Index Ends Lower as Mining, Power and Oil & Gas Weigh on Market

Broad declines leave fewer gainers as key commodities and FX show mixed moves

By Priya Menon MGNT

Russian equities closed lower on Thursday, with the MOEX Russia Index sliding 1.36% as losses in the Mining, Power and Oil & Gas sectors pressured the market. Advancers were heavily outnumbered by decliners, while commodity and currency markets showed mixed movement and the Russian Volatility Index fell sharply.

MOEX Russia Index Ends Lower as Mining, Power and Oil & Gas Weigh on Market
MGNT

Key Points

  • MOEX Russia Index closed down 1.36% as losses were concentrated in the Mining, Power and Oil & Gas sectors.
  • Market breadth was negative with 176 decliners, 68 advancers and 6 unchanged; Magnit (MCX:MGNT) fell to a five-year low.
  • Commodities and FX were mixed: June gold futures fell, June crude rose, July Brent slid slightly, and USD/RUB and EUR/RUB were unchanged.

Russian shares finished the trading day in Moscow on Thursday with a noticeable loss, led by weakness in the Mining, Power and Oil & Gas sectors. At the close, the MOEX Russia Index was down 1.36%.

The session's top performers on the MOEX Russia Index included AFK Sistema PJSC (MCX:AFKS), which rose 3.02% or 0.34 points to finish at 11.61. Mobil’nye Telesistemy PJSC (MCX:MTSS) added 1.65% or 3.65 points to close at 225.20, and PIK SHb PJSC (MCX:PIKK) edged up 0.06% or 0.30 points to 538.50 in late trade.

On the downside, Bank VTB PJSC (MCX:VTBR) led losses after sliding 3.62% or 3.39 points to end at 90.11. Retailer Magnit PJSC (MCX:MGNT) dropped 2.56% or 65.00 points to close at 2,471.00, while oil producer Surgutneftegas PJSC (MCX:SNGS) fell 2.55% or 0.51 points to 19.51.

Market breadth was tilted to the downside on the Moscow exchange: falling issues outnumbered advancing ones by 176 to 68, and 6 stocks finished unchanged.

Notably, shares of Magnit PJSC (MCX:MGNT) moved to five-year lows, declining 2.56% or 65.00 to reach 2,471.00 at the close.

Volatility measures also shifted during the session. The Russian Volatility Index - RVI, which tracks implied volatility of MOEX Russia Index options, dropped 17.12% to 20.81.

Commodities and currency markets were mixed. Gold futures for June delivery were down 1.09% or 51.35 to $4,655.35 a troy ounce. In energy markets, crude oil for June delivery rose 0.99% or 1.00 to $102.02 a barrel, while the July Brent contract fell 0.13% or 0.14 to trade at $106.52 a barrel.

Foreign exchange moves were muted at the close: USD/RUB was unchanged at 73.15 (0.00%), and EUR/RUB was also unchanged at 85.46 (0.00%). The US Dollar Index Futures was higher, up 0.36% at 98.78.


The session highlighted sector-specific pressure in Mining, Power and Oil & Gas stocks, while select telecommunications and diversified holdings posted gains. Breadth indicators favored sellers and volatility as measured by the RVI declined notably.

Risks

  • Negative market breadth - with far more falling stocks (176) than advancing ones (68) - highlights downside pressure across multiple sectors, including Mining, Power and Oil & Gas.
  • Further declines in major components such as Bank VTB PJSC (MCX:VTBR) and Magnit PJSC (MCX:MGNT) could weigh on investor sentiment in banking and retail sectors.
  • Volatility measures shifted materially - the RVI fell 17.12% to 20.81 - indicating changing expectations for near-term option-implied volatility that could affect hedging and trading flows.

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