Overview

• The MOEX Russia Index closed the main session down 1.05% at 2,604.55, then slipped below 2,600 in the evening for the first time since April 9.
• The RTS Index fell 2.12% to 1,001.86, reflecting sharper pressure on dollar-denominated shares.
• Analysts pointed to proposed tax changes in the budget package, an EU 19th sanctions round in preparation, and domestic fuel export limits as principal drags.
• Macro signals stayed mixed as Rosstat reported annual inflation at 8.01% as of September 29, complicating expectations for monetary easing.
• Currency and stock moves diverged, with the yuan up to 11.49 rubles, Surgutneftegaz shares gaining about 4.1% on reduced FX-sale guidance, and Bashneft dropping roughly 5.7%; near-term MOEX ranges were forecast at 2,575–2,725 by BCS and 2,600–2,700 by Freedom Finance.