Sale of miners as silver futures reaches an eight-year high on retail interest

European-listed miners made the leap on Monday, as US retail interest pushed futures to an eight-year high on silver.

Fresnillo FRES,
+ 14.42%,
Mexico’s second-largest silver miner, jumped 17% in London. Anglo-Russian gold and silver minor polymetal pole,
+ 7.40%
Rose 7%, and the Polish silver and copper mine KGHM Polska Miedz KGH,
+ 1.70%
Also rose 7%.

Silver futures SI00,
+ 10.28%
Increased by 12%.

The gain in silver describes wild moves in some stocks and assets over the past week, initially fueled by a small squeeze on American videogame retailer GameSpot GME.
+ 67.87%
It has spread to other assets.

“It will not be easy to influence the price of silver as a small or medium sized single equity. Silver has a market cap of $ 1.4 trillion to $ 1.6 trillion against GameStop’s $ 1.5 billion before retail investors became the target and a large share of the market is off-exchange. However, it will be interesting to see how the power of small players and how much they can push prices up, ”said Hussain Saeed, FXTM’s chief market strategist.

It dropped 3.1% after one week, Stoxx Europe 600 SXXP,
+ 1.10%
It rose 1.1% on Monday.

US stock futures ES00,
+ 0.91%
Were also higher.

JD Sports Fashion JD, on shares of
+ 6.43%
DTLR Villa, a Baltimore-based athletic footwear and apparel retailer with 247 stores, grew 6% after agreeing to buy it for $ 495 million. In the 52 weeks ended February 1, DTLR earned $ 45.6 million before interest, tax, depreciation and amortization.

Clapeier L.I.
The shopping-mall operator said that 88% of its French malls are closed, as it has non-commercial shops in Spain, Italy, Denmark, Germany, the Netherlands, Portugal, the Czech Republic, Barcelona and Oviedo, and in Oslo in Spain.


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