Russia's stock market ended the trading session lower on Monday, with losses concentrated in the Power, Mining and Oil & Gas sectors that pushed the overall benchmark down.
At the close in Moscow the MOEX Russia Index fell 2.26% and recorded a fresh three-year low. Declines across several heavy-weight names outpaced gains, leaving the market tilted to the downside.
Top movers
The session's strongest performers included PIK SHb PJSC (MCX:PIKK), which rose 1.05% or 5.70 points to finish at 551.10. LUKOIL PJSC (MCX:LKOH) added 0.46% or 19.50 points to close at 4,273.50. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) was unchanged at 1,083.80, finishing flat on the day.
Among the biggest decliners were Bank VTB PJSC (MCX:VTBR), which fell 8.60% or 6.04 points to end at 64.12. AFK Sistema PJSC (MCX:AFKS) slipped 7.61% or 0.82 points to close at 9.98. Unipro PJSC (MCX:UPRO) dropped 6.39% or 0.06 points to 0.91.
On the Moscow Stock Exchange, falling stocks outnumbered advancers by a wide margin - 214 to 32 - while five issues finished unchanged.
Notable price milestones
Several names reached multi-year troughs during the session. Shares of Bank VTB fell to all-time lows at 64.12, while AFK Sistema moved to five-year lows at 9.98. Unipro also declined to five-year lows at 0.91. GDR ROS AGRO’s American Depositary-equivalent shares remained unchanged at a 52-week low of 1,083.80.
Volatility, commodities and FX
The Russian Volatility Index - RVI, which measures implied volatility for options on the MOEX Russia Index, rose 3.86% to 42.22, indicating an uptick in expected near-term market swings.
In commodities trading, Gold Futures for August delivery climbed 1.22% or 50.35 to $4,176.05 a troy ounce. Crude oil for August delivery eased 0.13% or 0.09 to $68.60 a barrel, while the September Brent contract inched higher by 0.07% or 0.05 to $72.06 a barrel.
On the foreign exchange front, USD/RUB was unchanged at 77.03 and EUR/RUB was unchanged at 88.10. The US Dollar Index Futures held steady at 100.63, unchanged on the day.
Overall, the session was characterized by broad sector weakness led by energy-related and industrial groups, marked declines in select financial and industrial names, and a simultaneous rise in implied volatility and gold prices amid mixed oil price movements.