Stock Markets April 11, 2026 05:20 PM

Moscow trading ends with mixed moves as MOEX holds at one-month low

Bank and mining names lead gains while energy stocks slide; volatility index at year-to-date trough

By Nina Shah ROSN
Moscow trading ends with mixed moves as MOEX holds at one-month low
ROSN

Russian equities closed lower overall on Saturday, with the MOEX Russia Index unchanged at the close but marking a new one-month low. Banking and metals stocks were among the session's top performers, while major energy and utility names posted the biggest declines. The Russian Volatility Index held at a fresh 52-week low as commodity and currency prices moved intraday.

Key Points

  • MOEX Russia Index closed unchanged (0.00%) and recorded a new one-month low.
  • Top performers included Bank VTB (MCX:VTBR), Polyus (MCX:PLZL) and Severstal (MCX:CHMF); major laggards were NOVATEK (MCX:NVTK), Rosneft (MCX:ROSN) and RusHydro (MCX:HYDR).
  • RVI fell to a new 52-week low while gold and oil prices declined and the rouble strengthened versus the dollar and euro.

Russian share prices finished the session lower on Saturday, with sector variances shaping the market's intraday pattern. The benchmark MOEX Russia Index finished the day unchanged, registering 0.00% movement and settling at a level described as a new one-month low.

Leading and lagging stocks

Among constituents of the MOEX Russia Index, Bank VTB PJSC (MCX:VTBR) was the day's top performer, climbing 0.44% or 0.40 points to close at 90.80. Polyus PJSC (MCX:PLZL) added 0.39% or 8.40 points to finish at 2,171.80, and Severstal PJSC (MCX:CHMF) rose 0.39% or 3.20 points to end the session at 816.20.

On the downside, NOVATEK PJSC (MCX:NVTK) led losses, slipping 2.86% or 35.30 points to close at 1,198.00. Rosneft PJSC (MCX:ROSN) dropped 0.72% or 3.20 points to finish at 443.05. Federal Hydro Generating Company RusHydro PJSC (MCX:HYDR) was 0.52% or 0.00 points to 0.42.

Advancers outnumbered decliners on the Moscow Stock Exchange, with 119 stocks closing higher against 93 that fell, while 20 issues finished unchanged.


Volatility, commodities and currencies

The Russian Volatility Index - RVI, which measures the implied volatility of options on the MOEX Russia Index, remained unchanged at 0.00% to 17.35, a new 52-week low.

In commodities trading, Gold Futures for June delivery moved lower, down 0.64% or 30.60 to $4,787.40 a troy ounce. Crude oil for May delivery fell 1.33% or 1.30 to $96.57 a barrel, and the June Brent contract declined 0.75% or 0.72 to trade at $95.20 a barrel.

Currency markets saw the Russian rouble strengthen against major currencies in the session: USD/RUB was down 0.71% to 77.07, while EUR/RUB fell 0.54% to 90.33. The US Dollar Index Futures moved lower by 0.15% to 98.44.


Market context and takeaways

The session featured a mixture of sector-level strengths and weaknesses. Banking and mining names ranked among the top performers, while major energy and utility issuers recorded notable declines. Volatility measures reached a year-to-date low even as commodity prices and currency pairs posted intraday moves, underscoring a market environment with uneven readings across asset classes.

Risks

  • Further declines in crude oil and Brent prices could continue to weigh on energy-sector equities, as evidenced by the session's losses for major oil names.
  • Movements in USD/RUB and EUR/RUB indicate currency volatility that can affect exporters, importers and asset valuations in the Russian market.
  • An RVI reading at a 52-week low may reflect compressed implied volatility, which could change rapidly if market conditions shift.

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