European-listed miners jumped on Monday as U.S. retail interests 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,
it also rose 7%.
Payment futures SI00,
increased by 12%.
Silver gains illustrate wild moves of certain stocks and assets over the past week, initially driven by small pressure on U.S. video game retailer GameStop GME,
which has been extended to other assets.
“Influencing the price of silver will not be as easy as a single small or medium-sized single asset. Silver’s market cap ranges from $ 1.4 billion to $ 1.6 billion, compared to GameStop’s $ 1.5 billion, before it became the target of retail investors, and a large portion of the market is out of stock. However, it will be interesting to see the power of small players and the extent to which they can raise prices, ”said Hussein Sayed, FXTM’s chief market strategist.
After a tough week in which it lost 3.1%, the Stoxx Europe 600 SXXP,
rose 1.1% on Monday.
US stock futures ES00,
they were also taller.
Of the stocks in motion, JD Sports Fashion JD,
increased 6% after accepting the purchase of DTLR Villa, a Baltimore-based clothing and sportswear retailer with 247 stores, for $ 495 million. During the 52 weeks ended Feb. 1, DTLR made earnings before interest, taxes, depreciation and amortization of $ 45.6 million.
Klépierre LI,
decreased, as the mall operator said 88% of its French malls are closed, as well as non-essential stores in Italy, Denmark, Germany, the Netherlands, Portugal, the Czech Republic, Barcelona and Oviedo in Spain and Oslo in Norway.