European shares rise as miners lead early gains
Reuters
Published Feb 01, 2021 03:27AM ET
(Reuters) - European shares rose on Monday, bouncing from their worst weekly decline since October helped by a rise in shares of miners after an ongoing retail frenzy shifted its attention to silver.
The pan-European STOXX 600 index rose 0.8%, with shares of miners including Fresnillo (LON:FRES), Polymetal International and Boliden AB leading early gains on the index.
Silver has become the latest focus of a frenzied online movement by retail traders to push up values of assets that big fund managers had bet against.
The STOXX 600 had logged declines of over 3% in the previous week, on concerns around the slow roll-out of COVID-19 vaccines and as a retail trading frenzy led to a rise in volatility.
German shares rose 1%. Data showed retail sales plunged far more than expected in December as a decision to tighten lockdown measures in the COVID-19 pandemic choked consumer spending in Europe's largest economy.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.