MOSCOW – Russia’s stock market demonstrated robust performance on Monday, with the MOEX Russia Index closing up 1.37% to reach a new three-month high. The rally was fueled by strong gains across the key Mining, Oil & Gas, and Power sectors, signaling broad investor confidence.
The positive market sentiment was widespread, with 183 stocks advancing compared to just 56 declining on the Moscow Stock Exchange, while 10 ended the session unchanged.
Leading the charge were major industrial players. Steel giant Severstal PJSC (CHMF) was the session’s top performer, soaring 5.20% to close at 1,129.60. It was closely followed by another major steel producer, Magnitogorskiy Metallurgicheskiy Kombinat (MAGN), which added 4.84%. Power company ROSSETI PJSC (FEES) also posted a strong gain of 4.67%.
Market stability was further indicated by a drop in the Russian Volatility Index (RVI), a key measure of expected market turbulence, which fell 0.41% to 36.02.
Despite the overall bullish trend, some stocks faced headwinds. Gold producer Polyus PJSC (PLZL) was among the notable decliners, falling 1.71%. The drop in its shares coincided with a significant downturn in the price of gold, which fell 2.80% for December delivery.
In the commodities market, a slight uptick in Crude oil prices, which rose 0.20% to $64.01 a barrel, likely provided support for the energy sector’s positive performance. Meanwhile, major currency pairs remained stable, with the USD/RUB and EUR/RUB showing no change, indicating the day’s equity gains were driven by sector strength rather than currency fluctuations.
