European-registered miners jumped on Monday, as U.S. retail interest pushed futures on cash up to an eight-year high.
Fresnillo FRES,
Mexico’s largest silver miner jumped, 17% in London. Anglo-Russian Polymetal POLY gold and silver miner,
rose 7%, and Polish silver and copper miner KGHM Polska Miedz KGH,
also rising 7%.
SI00 cash future,
rose 12%.
The gains in cash reflect the wild movements in some stocks and assets over the past week, initially driven by a brief push on U.S. video retailer GameStop GME,
that has spread to other assets.
“Influencing the price of money will not be as easy as one small or medium sized equity. Silver’s market potential is in the range of $ 1.4 trillion to $ 1.6 trillion compared to GameStop’s $ 1.5 trillion before it became a target for retail investors, and a large portion of the market is off-exchange. However, it will be interesting to see the power of small players and how much they can push up prices, ”said Hussein Sayed, FXTM ‘s chief marketing strategy.
After a rough week in which he lost 3.1%, the Stoxx Europe 600 SXXP,
rose 1.1% on Monday.
US stock futures ES00,
also higher.
Of stocks moved, JD Sports Fashion JD,
rose 6% after agreeing to buy DTLR Villa, a Baltimore-based athletics and apparel retailer with 247 stores, for $ 495 million. In the 52 weeks ended February 1, DTLR had earnings before interest, tax, depreciation and depreciation of $ 45.6 million.
Klépierre LI,
declined, as the shop operator said 88% of its French malls are closed, as are inaccessible shops in Italy, Denmark, Germany, the Netherlands, Portugal, the Czech Republic, Barcelona and Oviedo in Spain , and Oslo in Norway.