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Sunny day for yellowcake stocks

Uranium stocks have enjoyed a positive period on the markets in the wake of Kazakhstan’s state-run uranium miner Kazatomprom’s plans to cut production 20% over the next three years.
Sunny day for yellowcake stocks Sunny day for yellowcake stocks Sunny day for yellowcake stocks Sunny day for yellowcake stocks Sunny day for yellowcake stocks

Equities rise following Kazatomprom’s planned production cuts

Staff reporter

In North America, miner Cameco Corp (CN:CCO) rose 12.87% and uranium explorer Denison Mines (US:DNN) shot up just over 15% yesterday, while Toro Energy (AU:TOE) which is advancing its Wiluna uranium project gained more than 18% in Australian trade today.

Still in the land down under, Australia's official interest rate was left unchanged today by the Reserve Bank, which said the outlook for non-mining business investment had further improved.

The benchmark S&P/ASX200 closed slightly lower with two lithium stocks posting some of the biggest daily declines.

Producer Galaxy Resources (AU:GXY) was eased 6.01% after yesterday's news of doubling its James Bay resource, while Orocobre (AU:ORE) lost 3.56% after yesterday announcing a high grade brine interval at its Cauchari joint venture in Argentina.

Meanwhile in London, the FTSE100 closed higher yesterday as a Brexit breakthrough failed to materialise largely due to the issue of the Irish border.

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