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Russia Stocks End Flat as Energy Shares Support MOEX Index

Russia Stocks End Flat as Energy Shares Support MOEX Index. Source: Image by Gerd Altmann from Pixabay

Russian stocks finished mixed after the close of trading in Moscow on Saturday, with the MOEX Russia Index ending the session unchanged at 0.00%. Market sentiment remained cautious as gains in select energy and utility stocks were offset by declines in metals, real estate, and telecom shares, leaving the benchmark index flat by the end of the day.

Among the best-performing stocks on the MOEX Russia Index was Federal Hydro Generating Company RusHydro PJSC (MCX: HYDR), which climbed 1.16% to close at 0.44. The stock benefited from steady interest in utility companies amid broader market uncertainty. Unipro PJSC (MCX: UPRO) also posted gains, rising 0.54% to finish at 1.50, while preferred shares of Surgutneftegas PJSC (MCX: SNGS_p) advanced 0.46% to end the session at 40.35, supported by strength in the energy sector.

On the downside, Magnitogorskiy Metallurgicheskiy Kombinat PAO (MCX: MAGN) was among the weakest performers, slipping 0.59% to 28.50 as metals stocks faced selling pressure. PIK SHb PJSC (MCX: PIKK), a major real estate developer, fell 0.53% to 487.80, while Rostelekom PJSC (MCX: RTKM) declined 0.49% to close at 63.17, reflecting softness in the telecommunications sector.

Overall market breadth was positive, with advancing stocks outnumbering decliners by 131 to 80, while 27 stocks finished unchanged. The Russian Volatility Index (RVI), which tracks implied volatility of MOEX Russia Index options, remained steady at 31.02, indicating stable investor expectations despite mixed equity performance.

In commodities trading, gold futures for February delivery rose 0.52% to $4,387.30 per troy ounce, signaling continued demand for safe-haven assets. Oil prices also moved higher, with February crude oil gaining 0.93% to $56.52 per barrel, while Brent crude increased 1.09% to $60.47.

In the currency market, the Russian ruble weakened against major currencies. USD/RUB rose 0.86% to 80.50, and EUR/RUB gained 0.76% to 94.26. Meanwhile, the U.S. Dollar Index futures edged up 0.16% to 98.25, adding modest pressure to emerging market currencies, including the ruble.

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