Cameco shares climbed nearly 5% after Seoul denied reports of a US proposal to acquire a stake in Westinghouse Electric.
Cameco (CCJ) shares surged 4.9% in Tuesday trading after South Korea’s government denied a report that the Trump administration had proposed the country acquire a stake in Westinghouse Electric. The denial followed a Korea Economic Daily article suggesting the US sought the deal to bolster nuclear energy ties.
The report had sparked speculation about potential shifts in nuclear energy partnerships, particularly amid global supply chain concerns. Cameco, a major uranium producer, had not been directly linked to the proposed deal but saw its stock rise on broader sector optimism.
No immediate market reaction beyond Cameco’s gain was reported, though the denial eased uncertainty around potential geopolitical implications for the nuclear sector.