Story
Russian Stocks Close Mixed; MOEX Index Touches 3-Year Low
Summary
The Russian stock market finished the latest session with a mixed performance, as the benchmark MOEX index hit a three-year low while energy shares gained. A weakening ruble and a spike in market volatility pointed to growing investor uncertainty.
Russia's stock market ended the trading day with a mixed performance, as gains in the energy sector were offset by losses in mining, while the benchmark index touched its lowest point in three years.
According to data from the Moscow Stock Exchange, rising stocks narrowly outnumbered declining ones by 120 to 110, with 17 ending unchanged, indicating a lack of broad market direction.
Index and Sector Performance
The benchmark MOEX Russia Index was reported as closing unchanged at the end of the session. However, the source material noted that this level represented a new 3-year low, signaling underlying market weakness despite the flat headline figure.
Key individual stock movements highlighted a split between sectors:
Ad- Gainers: Energy giants Rosneft (MCX:ROSN) and TATNEFT (MCX:TATN_p) were among the top performers, rising 2.50% and 2.11%, respectively. Moskovskiy Kreditnyi Bank (MCX:CBOM) also posted a strong gain of 2.62%.
- Losers: Gold producer Polyus PJSC (MCX:PLZL) was the session's worst performer, falling 3.07%. AFK Sistema (MCX:AFKS) and PIK Group (MCX:PIKK) also declined, shedding 0.60% and 0.33%.
Volatility and Currency Markets
Investor sentiment appeared cautious, as reflected in the derivatives market. The Russian Volatility Index (RVI), which measures the implied volatility of MOEX options, reportedly reached a new 6-month high at 46.01, pointing to increased expectations of future market swings.
In the currency markets, the Russian ruble weakened against major currencies. The USD/RUB pair rose by 1.10% to 77.00, while the EUR/RUB pair climbed 0.95% to 87.88, indicating pressure on the local currency.