Russia's stock market closed in negative territory on Wednesday, with the MOEX Russia Index giving up 0.41% at the Moscow close after losses concentrated in the Oil & Gas, Power and Manufacturing sectors pushed the index lower.
Market movers
- Top gainers: Polyus PJSC (MCX:PLZL) led advancers, rising 6.19% or 128.00 points to finish at 2,195.00. Aeroflot PJSC (MCX:AFLT) climbed 1.12% or 0.53 points to close at 47.69. OZON (MCX:OZON) was up 1.06% or 44.00 points, ending the session at 4,189.50.
- Largest decliners: TATNEFT n.a. V.D. Shashin (MCX:TATN) fell 2.82% or 16.40 points to 565.00 at the close. Rosneft PJSC (MCX:ROSN) dropped 2.80% or 11.80 points to 409.95. Surgutneftegas PJSC Pref (MCX:SNGS_p) declined 2.54% or 1.09 points to 41.90.
Breadth and volatility
Decliners outpaced advancers on the Moscow Stock Exchange, with 170 stocks falling against 73 that rose; 8 issues finished unchanged. The Russian Volatility Index - RVI, which tracks implied volatility for MOEX Russia Index options, decreased 1.79% to 25.31.
Commodities and currencies
Commodities traded with mixed outcomes. Gold Futures for June delivery rose 2.95% or 134.60 to $4,703.10 a troy ounce. By contrast, crude oil weakened: the June contract lost 5.93% or $6.06 to settle at $96.21 a barrel, and the July Brent oil contract edged down 0.13% or $0.13 to $101.89 a barrel.
On the currency front, USD/RUB was unchanged at 74.75 (0.00%), and EUR/RUB was unchanged at 87.80 (0.00%). The US Dollar Index Futures traded lower, down 0.43% at 97.89.
Key takeaways
- The MOEX Russia Index closed 0.41% lower, weighed primarily by losses in Oil & Gas, Power and Manufacturing names.
- Polyus, Aeroflot and OZON were among the session's top performers, while TATNEFT, Rosneft and Surgutneftegas Pref posted the largest declines.
- Market breadth favored decliners (170 vs. 73), and implied volatility as measured by the RVI eased to 25.31.
Risks and uncertainties highlighted by the session
- Ongoing weakness among major Oil & Gas stocks may continue to pressure the broader index, affecting the energy sector's contribution to market performance.
- Declines in large-cap industrial and power-related names could weigh on the Manufacturing and Power sectors' near-term outlook.
- Volatility measures moved lower but remain a factor to monitor for options and hedging strategies tied to the MOEX Russia Index.
This report reflects closing prices and market data reported at the Moscow market close. All percentage changes, point moves and price levels are as stated at the close of trading.