Russian stocks ended Wednesday's session in positive territory, with the benchmark MOEX Russia Index up 0.47% at the close in Moscow. Strength in the Mining, Telecoms and Manufacturing sectors underpinned the market's advance.
Top and bottom movers
The leading gainer on the MOEX Russia Index was Polyus PJSC (MCX:PLZL), which advanced 2.64% - an increase of 64.00 points - to finish at 2,485.60. Transneft PJSC Pref (MCX:TRNF_p) added 1.27%, or 18.00 points, closing at 1,448.00. PhosAgro PJSC (MCX:PHOR) rose 1.25%, gaining 81.00 points to end the session at 6,562.00.
On the downside, Bank VTB PJSC (MCX:VTBR) led the laggards, slipping 2.27% - down 2.03 points - to close at 87.37. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) fell 1.96%, a decrease of 0.12 points, to 6.17. VK Company Ltd (MCX:VKCO) declined 1.19%, or 3.85 points, to finish at 318.90.
Market breadth and volatility
Advancers narrowly outnumbered decliners on the Moscow Stock Exchange, with 123 rising issues versus 119 falling, and 11 shares ending unchanged. The Russian Volatility Index - RVI, which reflects implied volatility in options on the MOEX Russia Index, was higher by 2.08% at 27.42.
Commodities and currencies
Commodities traded actively alongside equity moves. Gold futures for April delivery increased 1.99%, or 97.39, to $5,003.29 a troy ounce. Crude oil for April delivery climbed 4.72%, up $2.94, to $65.20 a barrel, while the April Brent contract rose 4.48%, gaining $3.02, to trade at $70.44 a barrel.
In FX markets, the USD/RUB pair strengthened 0.53% to 76.75, while EUR/RUB eased 0.07% to 90.43. The US Dollar Index Futures moved up 0.59% to 97.63.
Key takeaways
- MOEX Russia Index closed up 0.47%, led by gains in Mining, Telecoms and Manufacturing.
- Top individual performers included Polyus PJSC (MCX:PLZL), Transneft PJSC Pref (MCX:TRNF_p) and PhosAgro PJSC (MCX:PHOR); major decliners included Bank VTB PJSC (MCX:VTBR), Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) and VK Company Ltd (MCX:VKCO).
- Commodities were firmer - April gold, WTI and Brent contracts all rose - while the ruble moved modestly against the dollar and euro.
Risks and uncertainties
- Rising implied volatility as measured by the RVI (up 2.08% to 27.42) signals elevated option-market uncertainty that could affect equity trading and sector rotations.
- Commodity price swings - particularly in oil and gold, which both moved notably higher - introduce uncertainty for commodity-linked sectors such as Mining and Manufacturing.
- Currency fluctuations, with USD/RUB up 0.53% and EUR/RUB down 0.07%, can impact exporters, importers and financial sector profitability.
These points reflect market outcomes observed at the close; they do not project future moves or causes beyond the session's reported data.