European Stocks Rise and Mining Companies Leading Early Gains

European stocks rose on Monday, recovering from their worst weekly decline since October, backed by a rally in mining stocks after an ongoing flurry of retail interest shifted to silver.

The European Stoxx600 index rose 0.8%, while mining stocks including Fresnelo, Polymetal International and Polydin led the early gains in the index.

Silver has become the latest focus of a frenzy online movement of retail traders raising the asset values ​​that big fund managers are betting on lower.

The Stoxx600 index recorded declines of more than 3% in the previous week, due to concerns surrounding a slowdown in the distribution of Covid-19 vaccines and at a time when the frenzied trading of individuals increased volatility.

The German DAX index rose 1%. Data showed that retail sales fell more than expected in December, as a decision to tighten lockdown measures to combat the Covid-19 pandemic stifled consumer spending in Europe’s largest economy.