Stock Markets January 22, 2026

Moscow Share Prices Dip Amid Weakness in Mining, Telecom, and Energy

MOEX Russia Index edges down as select stocks show gains

By Jordan Park UPRO HYDR
Moscow Share Prices Dip Amid Weakness in Mining, Telecom, and Energy
UPRO HYDR

The Russian stock market closed Thursday slightly lower, with the MOEX Russia Index decreasing by 0.09%, as declines in mining, telecommunications, and oil and gas sectors dragged the market down. Despite the downward trend, a few companies such as Unipro PJSC and Polyus PJSC posted gains. Commodities experienced mixed movements, with gold futures up while crude oil prices fell.

Key Points

  • The MOEX Russia Index closed lower by 0.09%, influenced by declines in mining, telecom, and oil and gas sectors.
  • Unipro PJSC and Polyus PJSC were among the top gainers, exhibiting positive price movements.
  • Commodity markets diverged, with gold prices rising sharply while crude oil prices experienced declines.

On Thursday, the Moscow Exchange saw a modest decline as the MOEX Russia Index closed down 0.09%, pressured primarily by setbacks in several key sectors including mining, telecommunications, and oil and gas.

Among the days notable performers, Unipro PJSC (MCX:UPRO) experienced a positive shift, gaining 4.52% to settle at 1.57. Polyus PJSC (MCX:PLZL) also advanced by 1.86% to close at 2,692.20, while VK Company Ltd (MCX:VKCO) ended the session higher by 0.67%, trading at 300.50.

Conversely, certain major stocks faced declines. NOVATEK PJSC (MCX:NVTK) led the laggards, dropping 2.25% to 1,215.00. Federal Hydro Generating Company RusHydro PJSC (MCX:HYDR) declined 1.56% to 0.43, and PIK SHb PJSC (MCX:PIKK) was down 1.54% closing at 467.90.

Market breadth indicated more falling stocks than advancing, with 138 stocks declining, 107 increasing, and 8 unchanged across the Moscow Stock Exchange.

Market volatility, as gauged by the Russian Volatility Index (RVI) which measures implied volatility for MOEX Russia Index options, showed a slight decline of 0.04%, finishing at 25.21.

Commodity markets exhibited divergent trends. Gold futures for February delivery surged 1.84%, or $88.79, reaching $4,926.29 per troy ounce. Meanwhile, crude oil contracts slipped; March WTI crude retreated 1.93% to $59.45 per barrel, and March Brent crude decreased 1.66% to $64.16 per barrel.

Currency movements included a 1.30% depreciation of the US dollar against the Russian ruble, with USD/RUB at 75.99, and EUR/RUB dropped 0.72% to 89.31. The US Dollar Index futures contracted 0.43%, settling at 98.14.

Risks

  • Sectors such as mining, telecommunications, and oil and gas experienced downward pressure, reflecting potential sectoral volatility.
  • The notable drop in crude oil prices could impact energy-related companies and overall market sentiment.
  • A greater number of declining stocks than advancing ones suggests broader market weakness.

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