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Russia Stocks Edge Lower as MOEX Holds Steady Amid Mixed Market Signals

Russia Stocks Edge Lower as MOEX Holds Steady Amid Mixed Market Signals. Source: Image by Steinar Hovland from Pixabay

Russian stocks closed flat on Saturday, with the MOEX Russia Index finishing the session unchanged at a new one-month high. Despite the lack of movement in the broader index, investor sentiment remained cautious as major sectors showed no significant gains or losses.

Among the session’s top performers were AFK Sistema PJSC, Aeroflot PJSC, and ROSSETI PJSC, all of which ended the trading day unchanged. AFK Sistema held steady at 13.05, Aeroflot closed at 54.71, and ROSSETI maintained its price at 0.06. The same trio also appeared on the list of worst performers due to identical unchanged movements, reflecting the overall stagnant trading environment. With no stocks advancing or declining on the Moscow Exchange, the market exhibited unusually low volatility.

The Russian Volatility Index (RVI), which tracks expected volatility for MOEX Russia Index options, also remained flat at 35.82, reinforcing the day’s muted activity.

In the commodities market, gold continued its upward momentum. December Gold Futures rose 0.48% to $4,079.50 per troy ounce, supported by safe-haven demand. Crude oil prices, however, faced downward pressure. January crude oil futures dropped 2.02% to $57.81 per barrel, while Brent for January delivery declined 1.29% to $62.56 per barrel as global energy markets reacted to concerns over demand dynamics.

Currency movements also played a role in shaping investor sentiment. The USD/RUB pair fell 1.19% to 79.10, while the EUR/RUB slipped 1.32% to 91.06, reflecting a stronger ruble against major currencies. Meanwhile, the US Dollar Index Futures inched up 0.02% to 100.11.

Overall, the trading session highlighted a day of stability but minimal direction for Russian equities, with global commodity and currency shifts offering the only notable market drivers.

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