Russian equities extended declines on Monday, with the MOEX Russia Index dropping 2.66% to a one-month low as losses in energy, mining and technology shares outweighed gains in select oil and gas names.
The benchmark gauge fell alongside a broader market selloff, with declining issues outnumbering advancers by 220 to 30 on the Moscow exchange. The Russian Volatility Index, which tracks implied volatility for MOEX Russia Index options, rose 5.36% to 47.21.
Energy and mining stocks led the retreat, though a handful of oil and gas names posted modest gains. Surgutneftegas preferred shares advanced 1.15% to 40.43, while Transneft preferred shares slipped 0.29% to 1,014.00. Mobile Telesystems fell 1.32% to 179.90.
Technology and consumer-focused stocks bore the brunt of the decline. OZON slumped 23.93% to 2,266.00, marking a three-year low. AFK Sistema dropped 12.66% to 7.11, hitting a five-year trough, while VK fell 9.48% to 120.35, setting an all-time low.
Commodities showed mixed performance. December gold futures rose 0.63% to $4,709.90 per troy ounce, while October WTI crude fell 2.39% to $84.98 per barrel. The November Brent contract was nearly flat, down 0.02% to $90.37 per barrel.
The ruble held steady against major currencies, with USD/RUB and EUR/RUB both unchanged at 83.41 and 97.28, respectively. The U.S. Dollar Index edged up 0.19% to 98.92.
