Russian equities closed higher on Tuesday, with the MOEX Russia Index ending the session up 1.34% in Moscow as strength in Oil & Gas, Mining and Power names pushed the market higher.
Among individual movers, AFK Sistema PJSC (MCX:AFKS) led gains on the index, rising 4.03% - an increase of 0.44 points - to finish at 11.33. TATNEFT n.a. V.D. Shashin (MCX:TATN) added 3.04%, gaining 17.70 points to close at 599.20, while TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) rose 2.80%, up 15.40 points to 564.70 in late trade.
On the downside, Magnit PJSC (MCX:MGNT) was among the weaker names, slipping 0.39% or 10.00 points to end at 2,562.50. Polyus PJSC (MCX:PLZL) eased 0.04%, a decline of 0.80 points, to close at 2,180.80. GDR ROS AGRO PLC ORD SHS (MCX:AGRODR) was unchanged at 1,083.80, with the share price sitting at 52-week lows and recording 0.00% movement for the session.
Market breadth on the Moscow exchange was positive, with advancing issues outnumbering decliners by 177 to 65, and 8 stocks finishing unchanged.
The Russian Volatility Index - RVI, which tracks implied volatility in MOEX Russia Index options, declined 3.16% to 25.12.
Commodity markets recorded mixed moves. Gold futures for June delivery eased 0.13%, down $6.10 to $4,722.60 a troy ounce. In energy, crude oil for June delivery rallied 4.06%, or $3.98, to reach $102.05 a barrel. The July Brent contract gained 0.16%, rising $0.17 to trade at $107.60 a barrel.
In currency trading, USD/RUB was unchanged at 73.81 and EUR/RUB held steady at 86.64, each showing 0.00% change for the session. The US Dollar Index Futures moved higher, up 0.37% to 98.19.
Is AFKS a bargain right now? The fastest way to find out is with a Fair Value calculator that applies a mix of 17 industry valuation models for comparison. Use such tools to assess AFKS and other stocks for potential undervaluation.