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Russia’s MOEX Index rose 0.38% to 2,337.4 points at the close of the main trading session on Wednesday, October 7, extending its recent advance. The Moscow Exchange’s official notice put the index at 2,337.41 at 7 p.m. local time; the dollar-denominated RTS Index gained 0.65% to 861.4.
Vedomosti reported that higher oil prices and currency-market developments helped support the benchmark, while geopolitical signals remained mixed. The advance was modest, and the day’s share-price moves varied across companies, with steelmaker Severstal among the leading gainers and shipping company Sovcomflot among the decliners.
Energy and exchange rates in focus
Brent crude futures for December delivery rose 1.09% to $101.70 a barrel, according to Vedomosti’s market recap. The November West Texas Intermediate contract gained 0.15% to $89.57. The outlet cited BCS World of Investments market expert Andrey Smirnov, who said oil above $100 a barrel and a dollar exchange rate around 85 rubles were positive influences on Russian shares.
The currencies showed different moves depending on the measure cited. The yuan on the Moscow Exchange rose 0.3%, or four kopecks, to 12.75 rubles, while the Bank of Russia’s official dollar rate was set at 85.48 rubles, down 23 kopecks. The official euro rate rose 30 kopecks to 96.33 rubles.
Gainers and decliners diverge
Severstal shares gained 2.87%, leading the advance among the stocks highlighted by Vedomosti. Cian rose 2.64%, Novolipetsk Steel added 2.44%, Renaissance Insurance gained 2.24% and Ozon advanced 1.85%.
On the weaker side, Sovcomflot fell 1.74%. VTB and Sovcombank each lost 1.38%, while Positive Technologies declined 1.31% and Moscow Credit Bank dropped 1.23%. The dispersion in share performance showed that the index’s rise did not reflect gains across every major constituent.
Geopolitical backdrop remained uncertain
Smirnov characterized geopolitical signals as mixed but said they were, overall, consistent with moderate optimism. Vedomosti reported that a possible telephone conversation between the Russian and U.S. presidents and a meeting involving the leaders of Russia, the United States and China at an Asia-Pacific summit were among the developments investors were watching.
At the same time, Russia’s foreign ministry said there were no current plans for a trilateral meeting between Russia, the United States and Ukraine, according to the report. Vedomosti also said the European Union had agreed on a 22nd package of sanctions against Russia. The competing signals were part of the backdrop, but the available reporting did not establish that any single diplomatic development caused Wednesday’s market move.
Next items on the calendar
For Thursday, October 8, Vedomosti pointed to several scheduled domestic market and economic developments. It reported that shares of Cherkizovo, Zaymer and B2B-RTS would trade for the last time with dividend rights that day, and that the Bank of Russia was due to publish its monitoring of sectoral financial flows and a review of financial-market risks.
Investors were also awaiting the U.S. weekly jobless-claims report, while mainland Chinese exchanges were due to reopen after an extended holiday. These were upcoming events as of Wednesday’s close, not confirmed explanations for the session’s performance. The MOEX’s official closing figure establishes where the benchmark finished, while the available contemporaneous reporting attributes the day’s gains to a combination of oil and currency influences rather than a single catalyst.
