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Russia Stocks Slip as Mining, Telecoms, and Power Sectors Drag MOEX Lower

Russia Stocks Slip as Mining, Telecoms, and Power Sectors Drag MOEX Lower. Source: Image by Gerd Altmann from Pixabay

Russian stocks closed lower on Saturday, with the MOEX Russia Index dropping 0.98%, weighed down by declines in the mining, telecoms, and power sectors.

PhosAgro PJSC (MCX:PHOR) led the gainers, rising 0.85% to 6,633.00. TATNEFT (MCX:TATN) added 0.77% to close at 693.90, while LUKOIL PJSC (MCX:LKOH) climbed 0.73%, ending at 7,346.50.

On the downside, PIK SHb PJSC (MCX:PIKK) was the session’s worst performer, falling 5.80% to 590.00. AFK Sistema PJSC (MCX:AFKS) dropped 3.25% to 18.74, and VK Company Ltd (MCX:VKCO) lost 2.35%, closing at 294.40.

Market sentiment remained cautious, with declining stocks outnumbering gainers. The Russian Volatility Index (RVI), which gauges implied volatility on MOEX Russia Index options, fell sharply by 11.03% to 42.04, indicating reduced investor uncertainty despite the market downturn.

In commodities, April gold futures slipped 0.74% to $3,021.40 per troy ounce. Crude oil for May delivery eased 0.26% to $67.89 a barrel. However, Brent oil for May edged up 0.22% to $72.16.

On the currency front, the ruble strengthened against major currencies. USD/RUB fell 0.50% to 84.50, while EUR/RUB declined 0.84% to 91.37. Meanwhile, the US Dollar Index Futures gained 0.24%, reaching 103.74.

With geopolitical factors and commodity prices continuing to influence market trends, investors remain vigilant. The decline in MOEX reflects broader caution across global markets, especially amid shifting energy and currency dynamics.

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