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Market Mover | ASX uranium stocks surge today, continuing strong weekly rally despite minor pullback yesterday

Moomoo News ·  Sep 26, 2024 11:07  · Movers

ASX uranium stocks surged on Thursday, with $Paladin Energy Ltd (PDN.AU)$ rising 6.67%, $Boss Energy Ltd (BOE.AU)$ rising 4.76%, and $Deep Yellow Ltd (DYL.AU)$ rising 4.4%.

Two drivers propelling ASX uranium stocks upward:

  1. Microsoft's Nuclear Energy Deal: $Microsoft (MSFT.US)$ has signed a 20-year agreement with $Constellation Energy (CEG.US)$ to restart a nuclear reactor and launch a clean energy center, marking a significant step towards decarbonization and highlighting the growing demand for nuclear power to meet the energy needs of AI and data centers.

  2. Support from Major Financial Institutions: Goldman Sachs, Bank of America, Barclays, BNP Paribas, and Citi have voiced their support for a tripling of global nuclear energy capacity by 2050, which is crucial for the nuclear industry that has historically struggled to secure financial backing.

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Source: Bloomberg, Market Index

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