Overview

• The Moscow Exchange index closed at 2,563.3, its lowest level since December 2024 after a 4.05% drop.
• Losses hit major names, with Sberbank down 4.9%, Gazprom 4.1%, VTB 4.7%, Rosneft 2.5%, and Mechel off 6.7%.
• Deputy Foreign Minister Sergei Ryabkov said momentum from the Putin–Trump Alaska meeting was exhausted and that the structure of relations with Washington was collapsing.
• President Vladimir Putin a day earlier told senior military officials that the objective of the special military operation remained unchanged.
• The index has fallen for five straight weeks and is down more than 22% since February, erasing about 1.3 trillion rubles in market value as growth slows and the World Bank trims forecasts.