Stock Markets April 12, 2026 05:20 PM

Moscow session ends with mixed moves as MOEX posts one-month low; commodity and FX shifts noted

Index finishes unchanged while select oil and mining names diverge; volatility at a one-year trough

By Avery Klein
Moscow session ends with mixed moves as MOEX posts one-month low; commodity and FX shifts noted

Russian equities closed lower on Sunday with the MOEX Russia Index ending unchanged at a new one-month low. Gains in select oil names contrasted with losses among major miners and an airline stock. Market breadth favored advancers over decliners, while implied volatility, gold, crude oil, and currency pairs all registered declines.

Key Points

  • MOEX Russia Index closed unchanged (0.00%) and reached a new one-month low.
  • Energy names outperformed with Surgutneftegas and TATNEFT shares rising; major miners and Aeroflot weakened.
  • Implied volatility (RVI) hit a new 52-week low while gold and crude oil prices declined; the ruble strengthened versus the dollar and euro.

Russia stocks were lower after the close on Sunday, with available reporting not specifying which sectors led moves - that detail was not present in the dataset used for this report.

At the close in Moscow, the MOEX Russia Index was unchanged, recorded as 0.00%, and marked a new 1-month low.

The session saw several notable individual stock moves on the MOEX Russia Index. The top performers included Surgutneftegas PJSC Pref (MCX:SNGS_p), which climbed 3.04% or 1.25 points to finish at 42.43. TATNEFT n.a. V.D. Shashin (MCX:TATN) rose 3.01% or 18.40 points to close at 629.50, while TATNEFT n.a. V.D. Shashin Pref (MCX:TATN_p) gained 2.96% or 16.60 points to end the session at 576.80.

Conversely, several large-cap names declined. MMC NORILSK NICKEL PJSC (MCX:GMKN) fell 1.74% or 2.30 points to trade at 131.90 at the close. Polyus PJSC (MCX:PLZL) dropped 1.60% or 34.60 points to finish at 2,128.80, and Aeroflot PJSC (MCX:AFLT) decreased 1.41% or 0.69 points to 48.30 in late trade.

Market breadth on the Moscow Stock Exchange showed more advancing issues than decliners, with 146 rising stocks versus 76 that fell; 21 issues ended the session unchanged.

The Russian Volatility Index - RVI, which measures implied volatility of MOEX Russia Index options, was unchanged at 0.00% and stood at 17.35, registering a new 52-week low.

Commodities also moved lower over the session. Gold Futures for June delivery declined 0.64% or 30.60 to $4,787.40 a troy ounce. In energy markets, crude oil for delivery in May fell 1.33% or 1.30 to $96.57 a barrel, while the June Brent contract decreased 0.75% or 0.72 to trade at $95.20 a barrel.

Foreign exchange rates against the ruble retreated: USD/RUB was down 0.71% to 77.07, and EUR/RUB fell 0.54% to 90.33. The US Dollar Index Futures moved lower by 0.15% to 98.44.

These data points present a session in which selective strengths in certain oil producers contrasted with weakness among miners and an airline, set against declining implied volatility and softer commodity and currency readings.

Risks

  • Declines in major mining stocks could weigh on the materials sector and related market capitalization measures.
  • Falling commodity prices, including gold and crude oil, may introduce revenue pressure for commodity-linked firms in energy and mining sectors.
  • Currency movements - ruble appreciation versus the dollar and euro - may affect exporters and companies with dollar-denominated costs.

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