European-listed miners jumped on Monday, with interest in U.S. retailers pushing silver futures to an eight-year high.
Fresnillo FRES,
Mexico’s second largest silver miner jumped 17% in London. Anglo-Russian gold and silver miner Polymetal POLY,
rose 7%, and the Polish silver and copper miner KGHM Polska Miedz KGH,
also rose 7%.
SI00 silver futures,
increased by 12%.
The silver earnings illustrate wild movements in certain stocks and assets last week, initially fueled by a little pressure at the U.S. GameStop GME video game store,
that has spread to other assets.
“Influencing the price of silver will not be as easy as a single small or medium-sized asset. Silver’s market capitalization is in the range of $ 1.4 trillion to $ 1.6 trillion, as opposed to GameStop’s $ 1.5 billion before it became the target of retail investors, and a large proportion the market is out of the stock market. However, it will be interesting to see the power of small players and how much they can push prices, ”said Hussein Sayed, chief market strategist at FXTM.
After a difficult week in which it lost 3.1%, Stoxx Europe 600 SXXP,
rose 1.1% on Monday.
US stock futures ES00,
were also greater.
From moving stocks, JD Sports Fashion JD,
rose 6% after agreeing to buy DTLR Villa, a Baltimore-based shoe and sportswear retailer with 247 stores, for $ 495 million. In the 52 weeks ended on February 1, DTLR had a profit before interest, taxes, depreciation and amortization of $ 45.6 million.
Klépierre LI,
decreased, as the shopping center operator said 88% of its French shopping 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.