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Time to revisit nuclear?

The whole nuclear industry took a body blow after the Fukushima disaster in March. Spot prices for uranium fell by 25%, and shares in the biggest listed uranium miner Cameco lost over 50%. Constructors were also badly hit, as country after country announced suspension or review of its nuclear programme. This week, the French nuclear champion Areva announced losses of €1.6bn.

So it seems a strange time to be looking again at the sector. But a couple of events on different sides of the globe suggest that, whilst the industry may still be at the crossroads, there are grounds for cautious optimism. Set against the sell-off since March, that presents opportunities for the contrarian investor.