Australian uranium stocks gain after Google's power deal with Constellation Energy
URA•Australian uranium stocks rose after Google signed a multiyear deal to buy 3,590 megawatts of power from Constellation Energy, with new nuclear energy accounting for about a quarter of supply, the companies said.
1. Uranium shares rise
Boss Energy shares rose 9%, reaching their highest level since September 29, while Paladin Energy gained more than 6%. Deep Yellow climbed nearly 10%, its biggest intraday percentage gain since September 3.
2. Google power agreement
Google signed a multiyear agreement to buy 3,590 megawatts of power from Constellation Energy, the largest U.S. nuclear power plant operator. The companies said new nuclear energy accounts for about a quarter of the supply. Uranium is primarily used as fuel for nuclear power plants to generate low-carbon electricity.
