European shares rise as miners lead early gains
Daily News

European shares rise as miners lead early gains

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 29, 2021. REUTERS/Staff

(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, 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.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Read More

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:Daily News

Leave a reply

Your email address will not be published. Required fields are marked *