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Russia Stocks End at Six-Month Low as MOEX Index Stalls, Gold Surges and Oil Retreats

Russia Stocks End at Six-Month Low as MOEX Index Stalls, Gold Surges and Oil Retreats. Source: Photo by Kampus Production

Russian stocks closed mixed on Saturday, with the MOEX Russia Index finishing flat at 0.00% and touching its lowest level in six months. Investor sentiment remained cautious as gains in select stocks were offset by declines in key sectors, reflecting ongoing uncertainty in the Russian equity market.

Among the top performers on the Moscow Exchange, Aeroflot PJSC (MCX:AFLT) advanced 2.32% to close at 44.15. AFK Sistema PJSC (MCX:AFKS) gained 1.79% to finish at 13.34, while ROSSETI PJSC (MCX:FEES) added 1.41%, ending the session at 0.05.

On the downside, PIK SHb PJSC (MCX:PIKK) recorded the largest decline among blue-chip stocks, dropping 2.32% to 581.20. TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) fell 1.09% to 552.30, while TATNEFT (MCX:TATN) slipped 0.86% to close at 591.30.

Market breadth remained positive despite the weak benchmark performance, with 148 stocks advancing, 84 declining, and 15 ending unchanged on the Moscow Stock Exchange.

The Russian Volatility Index (RVI), a key measure of expected market volatility based on MOEX Russia Index options, remained unchanged at 26.71.

In the commodities market, gold prices rallied sharply as Gold Futures for August delivery climbed 3.03%, or $124.80, to reach $4,238.80 per troy ounce. Meanwhile, oil prices moved lower. U.S. crude oil for July delivery declined 3.23% to $84.88 per barrel, while Brent crude for August delivery dropped 3.37% to $87.33 per barrel.

Currency markets also saw moderate movement. The U.S. dollar strengthened 0.33% against the Russian ruble, with USD/RUB rising to 72.50. EUR/RUB gained 0.24% to 83.87.

The U.S. Dollar Index Futures edged down 0.10% to 99.75, highlighting broader weakness in the dollar despite gains against the ruble. Investors will continue monitoring global commodity prices, currency fluctuations, and geopolitical developments for clues about the direction of Russian stocks and emerging market assets.

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