Russia stocks higher at close of trade; MOEX Russia Index up 3.07%

Russian stocks experienced a rise in the closing trade on Monday, with the MOEX Russia Index increasing by 3.07%. The Oil & Gas, Power, and Mining sectors were among the main drivers of the upward trend. VK Company Ltd (VKCO) led the gainers by climbing 7.70% or 9.60 points, closing at 134.30. Magnit PJSC (MGNT) and AK Alrosa PJSC (ALRS) also contributed to the rally, with the former gaining 6.21% or 101.50 points to reach 1,736.50 and the latter up 5.13% or 1.00 point, closing at 20.48.

In contrast, Novatek PJSC (NVTK) was the worst performer of the day, falling 3.52% or 39.00 points to trade at 1,069.00. Novolipetsk Steel (NLMK) and Surgutneftegas PJSC Pref (SNGS_p) also declined, by 2.52% or 1.94 points to 75.08, and 2.47% or 1.04 points to 41.02, respectively. The Moscow Stock Exchange saw more stocks rise than fall, with 139 outperforming and 103 underperforming.

Thirteen stocks ended unchanged. The Russian Volatility Index (RVI), a measure of implied volatility of MOEX Russia Index options, rose 3.74% to 31.09. Gold Futures for December delivery increased by 0.13% or 5.35 to $4,195.95 per troy ounce, while the December Brent oil contract climbed 0.02% or 0.02 to $105.99 per barrel. The USD/RUB remained unchanged at 83.98, and the EUR/RUB was also stable at 93.70. The US Dollar Index Futures saw a slight dip of 0.01% at 102.37.