BUZZ-Cameco Corp: Japan restarts nuclear power station

Tue Oct 28, 2014 2:56pm EDT
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** Canadian uranium miner's shares up 3.3 pct at $19.48

** Shares rise following news that a town in southwest Japan becomes the first to approve the restart of a nuclear power station

** All 48 of the country's nuclear reactors were gradually taken offline following Fukushima in 2011, the world's worst nuclear disaster since Chernobyl in 1986

** Uranium spot prices have been weak since the disaster, although they have recently crept off multi-year lows

** "Hopefully this is the catalyst we all have been waiting for," said David Talbot, an analyst at Dundee Capital Markets who follows Cameco. "But two restarts from 48 reactors isn't going to move the needle much."

** Up to Monday's close, stock had risen nearly 17 pct this year