MOEX Russia Index Climbs 3.26% to One-Month High
Russian equities closed Monday with a significant gain, driven by strong performance in the oil and gas sectors. The benchmark index reached a new peak for the past month.
The MOEX Russia Index closed up 3.26% to a new one-month high. This move marks the strongest single-day gain for the benchmark in the last four weeks. The rally was broad-based across the Moscow Exchange.
Gains in the oil and gas sector led the market higher. Electric utilities and metals and mining also contributed to the positive close. These three groups accounted for the bulk of the index point increase.
Sector leaders drive market rally
OZON was the top performer, rising 6.66% to 2,700.00 rubles. Rosneft followed with a 6.34% gain to end at 373.40 rubles. Moskovskiy Kreditnyi Bank added 5.10% to finish at 10.83 rubles.
Advancers outnumbered decliners by a margin of 190 to 55. Ten stocks finished the session unchanged. The breadth of the rally supported the index move.
Commodity and currency moves
Crude oil for October delivery rose 1.84% to $101.89 per barrel. Brent crude for November edged up 0.03% to $106.23 per barrel. These gains in energy prices supported the domestic oil stocks.
Gold futures for December fell 1.56% to $4,340.00 per troy ounce. The Russian dollar exchange rate remained flat at 84.88 rubles. The euro also held steady at 97.60 rubles.
Volatility and index context
The Russian Volatility Index increased 12.96% to 36.26. This rise reflects higher implied volatility in index options. The US Dollar Index futures climbed 0.36% to 99.20.
According to GN auto markets/indices data, the MOEX Russia Index performance outpaced global peers. The close marked a technical breakout for the Russian benchmark. Market participants noted the strength in energy-related equities.
