Russian stocks finished the trading session lower on Wednesday as sector-level declines in Power, Oil & Gas and Manufacturing pressured the benchmark. At the close in Moscow, the MOEX Russia Index fell 0.18% to register a new six-month low.
Among individual movers, AK ALROSA PJSC (MCX:ALRS) was the session's top performer, advancing 1.91% or 0.49 points to close at 26.21. TATNEFT n.a. V.D. Shashin (MCX:TATN) gained 1.86% or 9.90 points to finish at 542.90, while TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) rose 1.45% or 7.30 points to 510.90 in late trade.
On the downside, PIK SHb PJSC (MCX:PIKK) led losses, dropping 5.80% or 35.70 points to close at 580.30. VK Company Ltd (MCX:VKCO) fell 3.42% or 8.20 points to end the day at 231.65 and Aeroflot PJSC (MCX:AFLT) declined 1.99% or 0.88 points to 43.29.
Decliners outnumbered advancers on the Moscow Stock Exchange by 160 to 78, with 10 stocks unchanged.
Market-implied volatility, as measured by the Russian Volatility Index - RVI, increased 5.53% to 26.15, indicating a pickup in option-implied uncertainty for the MOEX Russia Index.
Commodities traded mixed: Gold Futures for August delivery fell 1.80% or 78.20 to $4,276.20 a troy ounce. In energy markets, crude oil for July delivery slipped 0.59% or 0.45 to $75.60 a barrel, while the August Brent contract inched higher by 0.09% or 0.07 to $78.78 a barrel.
On currency crosses, USD/RUB was unchanged at 72.88 and EUR/RUB was unchanged at 83.86. In U.S. markets, the US Dollar Index Futures rose 0.90% to 100.17.
Market context
The session featured a narrow set of winners led by select energy and materials names, offset by broader weakness across manufacturing and communications-related stocks. The increase in the RVI suggests elevated option market pricing for future swings in the benchmark.
Implications for sectors
- Power, Oil & Gas - saw net pressure as some constituents declined, though select oil names recorded gains.
- Manufacturing - contributed to the negative breadth as several industrials fell.
- Materials - mixed performance with ALROSA among the top performers.