Stock Markets August 31, 2026 05:20 PM

Moscow market closes higher as mining, oil and power names lead gains

MOEX Russia Index rises 3.15% with metallurgical and fertiliser stocks among top performers

By Ajmal Hussain
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MAGN

Russian equities finished higher in Moscow on Monday, driven by strong moves in the Mining, Oil & Gas and Power sectors. The MOEX Russia Index climbed 3.15% at the close, while a broad majority of listings advanced. Volatility, measured by the RVI, eased and commodities showed mixed moves including a sharp gain in October crude.

Moscow market closes higher as mining, oil and power names lead gains
MAGN
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Key Points

  • MOEX Russia Index closed up 3.15% on the session.
  • Top individual performers included MAGN (+8.24%), GMKN (+6.96%), and PHOR (+6.45%); laggards included SNGS_p (-1.46%), AFKS (-1.26%), and PLZL (-0.10%).
  • Rising stocks outnumbered decliners by 225 to 24, with 6 unchanged; the RVI fell 5.73% to 45.07.

Shares on the Moscow exchange closed the session higher on Monday, supported by advances across mining, oil and power-related companies. The MOEX Russia Index added 3.15% at the market close in Moscow.

The session's top gainer was Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX:MAGN), which jumped 8.24% - equal to a rise of 1.70 points - to finish at 22.34. GMK Noril'skiy Nikel' PAO (MCX:GMKN) followed with a 6.96% increase, or 8.30 points, closing at 127.80. PhosAgro PJSC (MCX:PHOR) also posted a notable advance, up 6.45% or 327.00 points to 5,397.00 in late trade.

On the other side of the ledger, a small group of stocks slipped. Surgutneftegas PJSC Pref (MCX:SNGS_p) retreated 1.46%, a decline of 0.62 points, to end at 41.61. AFK Sistema PJSC (MCX:AFKS) fell 1.26% or 0.09 points to 7.31. Polyus PJSC (MCX:PLZL) was marginally lower, down 0.10% or 1.00 points, to 1,044.00.

Advancers outnumbered decliners by a wide margin on the Moscow Stock Exchange, with 225 stocks rising against 24 decliners and 6 that finished unchanged.

Market breadth was accompanied by a drop in implied volatility. The Russian Volatility Index - RVI, which tracks implied volatility for MOEX Russia Index options, fell 5.73% to 45.07.

Commodities showed mixed performance in tandem with the session. Gold Futures for December delivery declined 0.72% - a drop of 32.60 - to settle at $4,497.30 a troy ounce. Crude oil for October delivery gained 3.49% or $2.91 to reach $86.31 a barrel, while the December Brent contract eased 0.02% or $0.02 to trade at $90.72 a barrel.

In foreign exchange, USD/RUB was unchanged at 86.30, and EUR/RUB was unchanged at 100.25. The US Dollar Index Futures was down 0.29% at 99.37.


This session reflects a market led higher by heavyweights in metallurgical production, nickel and fertiliser production, alongside energy-related names, while broader indicators of volatility and currency pairs showed limited directional movement.

Risks

  • Implied volatility, while down, remains elevated at an RVI level of 45.07 - this affects option pricing and hedging costs for equity and index exposures.
  • Commodity price swings were mixed: October crude oil rose sharply to $86.31 a barrel while December Brent edged lower to $90.72, creating divergent input-cost signals for oil-dependent sectors.
  • Exchange rates showed no movement during the session - USD/RUB at 86.30 and EUR/RUB at 100.25 - limiting FX-driven repricing but maintaining potential sensitivity to future FX moves.

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