Russian equities ended the trading session on Thursday with modest gains, led by strengths in the Power, Oil & Gas and Manufacturing sectors. At the close in Moscow, the MOEX Russia Index added 0.48%.
On an individual-stock basis, the session's top performers on the MOEX Russia Index included Rosneft PJSC (MCX:ROSN), which rose 1.36% or 5.95 points to finish at 442.05. Shares of Moskovskaya Birzha PJSC (MCX:MOEX) advanced 1.34% or 2.33 points to end at 176.47, while Surgutneftegas PJSC Pref (MCX:SNGS_p) gained 1.09% or 0.47 points to close at 44.12.
Not all names moved higher. The session's weakest performers included Publichnoe Aktsionernoe Obshchestvo "magnitogorskii Metallurgicheskii Kombinat" (MCX:MAGN), which fell 2.40% or 0.67 points to trade at 27.04 at the close. Aeroflot PJSC (MCX:AFLT) declined 1.71% or 0.86 points to finish at 49.30, and Novolipetsk Steel (MCX:NLMK) was down 1.67% or 1.58 points to 93.00.
Market breadth on the Moscow Stock Exchange was tilted toward gainers, with 129 stocks rising, 106 declining and 16 ending unchanged.
Measured risk appetite edged higher: the Russian Volatility Index - RVI, which tracks implied volatility in MOEX Russia Index options, was up 0.97% to 21.81.
Commodity moves were mixed during the session. Gold futures for June delivery fell 0.93% or 44.40 to $4,708.60 a troy ounce. In energy markets, crude oil for June delivery climbed 4.35% or 4.04 to $97.00 a barrel, while the June Brent oil contract slipped 0.01% or 0.01 to trade at $106.43 a barrel.
Currency pairs involving the Russian ruble were unchanged in the session: USD/RUB was flat at 75.58 and EUR/RUB was unchanged at 88.66. The US Dollar Index Futures registered a 0.25% gain to 98.66.
Key points
- MOEX Russia Index closed up 0.48%, supported by gains in Power, Oil & Gas and Manufacturing names.
- Top individual performers included ROSN (+1.36%), MOEX (+1.34%) and SNGS_p (+1.09%); largest decliners were MAGN (-2.40%), AFLT (-1.71%) and NLMK (-1.67%).
- Commodity and currency moves were mixed: June gold down 0.93%, June crude oil up 4.35%, Brent nearly flat; USD/RUB and EUR/RUB unchanged.
Risks and uncertainties
- Rising implied volatility as indicated by the RVI (up 0.97% to 21.81) suggests potential for greater price swings in equity options, affecting investor risk management - relevant to equity and derivatives markets.
- Divergent moves in commodities such as gold and crude oil introduce uncertainty for sectors exposed to commodity prices, particularly Oil & Gas and metals-oriented Manufacturing firms.
- Concentration of declines in specific industrial and transport names (for example MAGN and AFLT) highlights company-level downside risk within Manufacturing and Airlines sectors.