Stock Markets July 1, 2026 05:20 PM

Moscow stocks close modestly lower as energy, mining and power drag index down

MOEX Russia Index ends down 0.16% with mixed individual moves; volatility gauge falls and oil slips

By Ajmal Hussain
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The MOEX Russia Index finished Wednesday's session down 0.16% as declines in the Power, Mining and Oil & Gas sectors weighed on the market. Market breadth was slightly negative, a major residential developer slumped the most, and commodity prices moved unevenly with crude oil falling and gold edging higher.

Moscow stocks close modestly lower as energy, mining and power drag index down
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Key Points

  • MOEX Russia Index closed down 0.16% with losses concentrated in the Power, Mining and Oil & Gas sectors, indicating sector-specific pressure rather than broad-based selling.
  • Market breadth was slightly negative: 126 decliners versus 117 advancers, with 7 stocks unchanged, reflecting a modestly tilted market session.
  • Commodities moved unevenly: Gold futures rose 0.15% to $4,044.60 per troy ounce while August crude oil fell 2.03% to $68.09 a barrel, a dynamic that affects energy and mining sector valuations.

Russia's equity market closed modestly lower on Wednesday, with losses concentrated in the Power, Mining and Oil & Gas sectors contributing to a retreat in the main benchmark.

At the close in Moscow, the MOEX Russia Index declined 0.16%.

The session's top performers on the MOEX Russia Index included Moskovskaya Birzha PJSC (MCX:MOEX), which gained 1.61% or 2.71 points to finish at 170.60. Moskovskiy Kreditnyi Bank PAO (MCX:CBOM) added 1.26% or 0.11 points to close at 8.59, while Aeroflot PJSC (MCX:AFLT) rose 1.04% or 0.41 points to end trading at 39.91.

On the downside, PIK SHb PJSC (MCX:PIKK) recorded the largest drop, falling 5.57% or 31.60 points to close at 536.10. TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) declined 3.12% or 14.90 points to finish at 462.00, and TATNEFT n.a. V.D. Shashin (MCX:TATN) was down 2.85% or 14.40 points to 490.80.

Market breadth on the Moscow Stock Exchange was tilted toward declines, with 126 stocks falling versus 117 advancers and 7 stocks finishing unchanged.

Volatility, as measured by the Russian Volatility Index - RVI, eased during the session, moving down 7.01% to 37.17. This measure reflects the implied volatility of options on the MOEX Russia Index.

Commodities showed mixed moves. Gold Futures for August delivery rose 0.15% or 6.10 to $4,044.60 a troy ounce. In energy markets, crude oil for August delivery fell 2.03% or 1.41 to $68.09 a barrel, and the September Brent oil contract slipped 0.06% or 0.04 to trade at $71.15 a barrel.

Currency crosses were unchanged during the session: USD/RUB held flat at 77.51 and EUR/RUB was unchanged at 88.17. The US Dollar Index Futures was trading up 0.24% at 101.20.


Summary of key session facts:

  • MOEX Russia Index -0.16% at close.
  • Top risers: MOEX +1.61% to 170.60, CBOM +1.26% to 8.59, AFLT +1.04% to 39.91.
  • Largest decliners: PIKK -5.57% to 536.10, TATN_p -3.12% to 462.00, TATN -2.85% to 490.80.
  • RVI down 7.01% to 37.17; Gold up, crude oil down.

Risks

  • Continued weakness in the Oil & Gas sector - as shown by declines in TATNEFT (MCX:TATN) and TATN pref (MCX:TATN_p) - could keep pressure on related market segments.
  • Large declines in individual names such as PIK SHb PJSC (MCX:PIKK) - down 5.57% - highlight stock-specific downside risk for equity holders in the construction or property-related sector.
  • A drop in implied volatility as measured by the RVI - down 7.01% - may reduce hedging costs but could also signal lower near-term option market activity, which affects risk management in derivatives linked to the MOEX Russia Index.

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