Miners in the European market jumped on Monday as US retail interest rates pushed silver futures up to a maximum of eight years.
Fresnillo FRES,
Mexico’s second-largest silver miner jumped 17% in London. Gold and silver Anglo-Russian miner Polymetal POLY,
increased by 7% and the Polish silver and copper miner KGHM Polska Miedz KGH,
also increased by 7%.
Silver futures SI00,
increased by 12%.
The silver gains illustrate the wild movements of certain stocks and assets in the last week, initially fueled by a brief push from US video game retailer GameStop GME,
which extended to other assets.
“Influencing the price of silver will not be as easy as a single small or medium equity. The silver market cap is between $ 1.4 trillion and $ 1.6 trillion, as opposed to GameStop’s $ 1.5 billion, before it becomes the target of retail investors, and much of the market is out scholarship. However, it will be interesting to see the strength of small players and how far they can push prices, ”said Hussein Sayed, chief market strategist at FXTM.
After a tough week in which it lost 3.1%, Stoxx Europe 600 SXXP,
increased by 1.1% on Monday.
US ES00 futures,
they were also larger.
From moving stocks, JD Sports Fashion JD,
rose 6 percent after agreeing to buy DTLR Villa, a Baltimore-based footwear and sportswear retailer with 247 stores, for $ 495 million. In the 52 weeks ended February 1, DTLR had earnings before interest, taxes, amortization and amortization of $ 45.6 million.
Klépierre LI,
refused because the mall operator said 88% of its French malls are closed, as are non-essential stores in Italy, Denmark, Germany, the Netherlands, Portugal, the Czech Republic, Barcelona and Oviedo in Spain and Oslo in Norway. .