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Russian Stocks Slip Amidst Mixed Market Signals
7 Jan
Summary
- MOEX Russia Index closed down 0.49% on Tuesday.
- ROSSETI PJSC and RusHydro PJSC were among the top gainers.
- Gold futures saw a 1.15% increase, while crude oil declined.
On Tuesday, the Russian stock market closed with a decline, as the MOEX Russia Index registered a 0.49% decrease. Losses were predominantly seen in the Oil and Gas, Telecommunication, and Metals and Mining sectors. This downturn occurred despite a majority of individual stocks advancing, with 161 rising compared to 75 that fell.
Among the day's top performers were ROSSETI PJSC, Federal Hydro Generating Company RusHydro PJSC, and OK Rusal MKPAO, which saw modest gains. Conversely, OZON, PIK SHb PJSC, and TATNEFT n.a. V.D. Shashin Pref were among the biggest losers, contributing to the index's overall slide. The Russian Volatility Index (RVI) increased by 4.07% during the session.
In commodity markets, Gold Futures for February delivery experienced a notable increase of 1.15%. However, crude oil futures for February delivery fell by 2.37%, and the March Brent oil contract decreased by 1.99%. The USD/RUB exchange rate saw a slight increase, while EUR/RUB declined.
