Cameco shares rise 4.3% on Westinghouse speculation

Cameco shares rose by 4.3% to close at 91.48 euros following speculation regarding strategic shifts at its subsidiary, Westinghouse Electric. Cameco currently holds a 49% stake in Westinghouse, while Brookfield Renewable controls the remaining 51%.

Reports suggested that the US government might have proposed that South Korea acquire a strategic stake in Westinghouse to resolve intellectual property disputes and support US nuclear energy expansion. However, the South Korean Ministry of Trade, Industry and Energy officially denied these reports. Despite the denial, investor interest remains high, bolstered by Westinghouse's recent filing of a draft for a potential initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

Institutional interest in Cameco is also increasing. JPMorgan Chase & Co. reported acquiring approximately 4.2 million additional shares in the second quarter, bringing the estimated value of its position to $427.67 million. Additionally, De Lisle Partners LLP reported establishing a new position valued at approximately $58.15 million.