Russia stocks lower at close of trade; MOEX Russia Index down 1.76%

Russia stocks closed lower on Friday, with the MOEX Russia Index dropping 1.76%. The decline was primarily driven by losses in the Oil & Gas, Mining, and Power sectors. Among the top gainers, Polyus PJSC rose 1.97%, Magnit PJSC increased 1.02%, and PIK SHb PJSC gained 0.43%. Conversely, Moskovskiy Kreditnyi Bank PAO experienced a 4.13% drop, NOVATEK PJSC fell 2.86%, and T Tekhnologii MKPAO declined 2.78%.

The Russian Volatility Index, which gauges the expected volatility of MOEX Russia Index options, hit a 3-month low at 31.97. Gold Futures for December delivery climbed 0.52% to $4,320.50 per troy ounce. Other commodities, such as Crude oil for November delivery and the November Brent oil contract, experienced declines. The Russian Ruble (RUB) weakened against the US Dollar and Euro, while the US Dollar Index Futures slipped slightly.