MOEX Russia Index Edges Higher, Lifted by Energy and Mining Stocks

Russia's main stock market benchmark, the MOEX Russia Index, finished Tuesday's trading session with a gain of 0.44%. The advance was primarily driven by positive performance in the country's key Oil & Gas, Power, and Mining sectors, according to market data.

A Narrow Advance

Despite the positive close for the headline index, market breadth was negative. On the Moscow Stock Exchange, falling stocks significantly outnumbered advancing ones by a margin of 191 to 57, with 7 issues ending the day unchanged. This suggests the gains were concentrated in a handful of large-cap names rather than a broad-based market rally.

Reflecting potential investor uncertainty, the Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, climbed 1.82% to 45.89.

Key Stock Movers

Leading the gains among the index components were several commodity and technology-related companies:

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• PhosAgro PJSC (PHOR) was the top performer, rising 2.39%.
• E-commerce giant OZON (OZON) added 1.92%.
• Surgutneftegas PJSC Pref (SNGS_p) gained 0.78%.

On the other side of the ledger, several major companies saw significant declines. Utility firm Unipro PJSC (UPRO) fell sharply by 6.63%, while gold miner Polyus PJSC (PLZL) dropped 6.05%. National airline Aeroflot PJSC (AFLT) also ended the session down 4.65%.

Commodity and Currency Markets

The performance of energy stocks was underpinned by a sharp rise in oil prices. Crude oil futures for October delivery surged 5.74% to $90.68 a barrel. In currency markets, the ruble held steady against major currencies, with both the USD/RUB and EUR/RUB pairs reported as unchanged at the close.