MOEX Russia Index Ends Flat as Ruble Weakens Amid Mixed Trading

Russia's MOEX benchmark index finished the trading session flat, with the headline figure obscuring notable divergence among its constituent stocks and broader weakness in the Russian ruble.

Market Internals

At the close in Moscow, the MOEX Russia Index registered 0.00% change, settling at a new 3-year low, according to data reported by Investing.com. Despite the static index performance, market breadth was narrowly positive, with advancing stocks outnumbering decliners 120 to 110, while 17 issues ended the day unchanged.

The Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, also closed unchanged at 46.01. However, this level represents a new 6-month high, signaling elevated uncertainty among investors.

Sector and Stock Movers

Performance was mixed across sectors, with gains in banking and energy contrasting with losses in precious metals.

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• Top Performers: Moskovskiy Kreditnyi Bank (MCX:CBOM) led the gainers, rising 2.62%. Energy giants Rosneft (MCX:ROSN) and TATNEFT (MCX:TATN_p) also posted strong results, adding 2.50% and 2.11%, respectively.
• Worst Performers: Gold producer Polyus (MCX:PLZL) was the biggest decliner, falling 3.07%. It was followed by conglomerate AFK Sistema (MCX:AFKS), down 0.60%, and real estate developer PIK (MCX:PIKK), which shed 0.33%.

Currency and Commodity Markets

The Russian ruble lost ground against major international currencies. The USD/RUB pair climbed 1.10% to 77.00, while the EUR/RUB advanced 0.95% to 87.88.

In commodities, prices relevant to the Russian economy softened. Crude oil for August delivery fell 0.93% to $71.41 a barrel, while the Brent oil contract for September delivery slipped 0.38%. Gold futures also declined, dropping 0.65%.