Russian Stock Market Experiences Sell-Offs Amid US Data Release and Oil Price Stagnation

Strategic Insights -

The Russian stock market experienced a significant sell-off on Tuesday evening, triggered by the release of US industrial inflation data and oil prices grinding to a halt. Despite the figures matching expectations, the markets corrected, leading to a decline in the MOEX Russia index below 4190. However, steelmakers, led by Rusal, saw gains ahead of the company's inclusion in the MSCI index. The MOEX closed down 0.7% at 4187.33, while the RTS fell 0.1% to 1864.21.

Key Takeaways:

  • The Russian stock market experienced a 0.7% decline on the MOEX Russia index, closing below 4190, due to the release of US industrial inflation data and oil price stagnation.
  • Steelmakers, led by Rusal, gained 7.1% as the company prepares for its inclusion in the MSCI index.
  • The RTS fell 0.1% to 1864.21, indicating a slight decline in the market.
  • The biggest decliners among ruble-priced benchmark stocks on the Moscow Exchange were TCS Group GDRs, Magnit, and Yandex, with declines of 4.9%, 3%, and 2.2% respectively.
  • Rusal's gain was driven by its inclusion in the MSCI index, highlighting the company's increasing market value.
  • The trading volume on the main Moscow Exchange market totaled 82.29 billion rubles, with Sberbank, Gazprom, and Nornickel being the most actively traded shares.

Statistics:

  • The MOEX Russia index closed at 4187.33, a decline of 0.7% from the previous day.
  • The RTS fell 0.1% to 1864.21 during the trading session.
  • Rusal gained 7.1% amidst the market correction.
  • The biggest decliners among ruble-priced benchmark stocks on the Moscow Exchange had declines ranging from 4.9% to 1%.
  • The trading volume on the main Moscow Exchange market reached 82.29 billion rubles.

Sources:

  • Interfax, "Russian stock market returns to sell-offs on declines in U.S., steelmakers make gains led by Rusal" (November 9)