MOEX Russia Index Gains 0.86%, Led by Oil and Gas Sector

Russia's benchmark stock index finished the trading week on a positive note, lifted by significant gains in the energy and power sectors. The MOEX Russia Index closed up 0.86% on Friday, according to data from the Moscow Exchange.

Market Internals

The advance was primarily driven by strength in the Oil & Gas, Power, and Manufacturing sectors. However, the rally was not broad-based, as market breadth was negative. Data from the close showed that falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 143 to 104, with 8 issues ending the session unchanged.

Reflecting a decrease in investor anxiety, the Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, fell by 3.80% to 47.81.

Key Stock Movers

Energy giant LUKOIL PJSC (MCX:LKOH) was the session's top performer, surging 6.25% to close at 4,579.00. Other notable gainers included:

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• Unipro PJSC (MCX:UPRO), which added 4.93%.
• VK Company Ltd (MCX:VKCO), which rose 2.06%.

On the downside, the financial sector saw weakness. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) was the worst performer, falling 4.32%. Gold producer Polyus PJSC (MCX:PLZL) declined 2.10%, while Bank VTB PJSC (MCX:VTBR) shed 1.24%.

Currency and Commodities

In the currency market, the Russian ruble strengthened against major currencies. The USD/RUB pair fell 0.19% to 86.14, while the EUR/RUB pair dropped 0.78% to 99.77.

Commodity markets presented a mixed backdrop. Brent crude, a key driver for the Russian economy, saw its November contract fall slightly by 0.27% to $88.28 per barrel. Gold futures for December delivery experienced a more significant decline, dropping 3.43% to $4,504.10 per troy ounce.