Australian companies’ uranium shares plummet

ASX uranium shares plummet amid Ukraine power station attack. Motley Fool, A fire at Europe’s largest nuclear power station has uranium investors on edge… Mitchell Lawler 6 Mar 22, ASX-listed uranium shares are tumbling on Friday following reports of a fire at Ukraine’s largest nuclear power station ……..

The S&P/ASX 200 Index (ASX: XJO) is suffering a red session on Friday amid an intensification of the situation in Ukraine. However, ASX uranium shares are showing up as some of the hardest-hit companies of all on the Australian share market.

At present, many uranium producers and explorers are trading 10% to 20% lower. This follows reports that one of Ukraine’s nuclear power stations — the largest in Europe — is on fire as a consequence of Russian attacks.

………. with years of unattractive prices for the commodity, investments in creating new a new supply had been dampened.

However, with expectations of nuclear energy becoming a piece in the green transition puzzle, investors were willing to take a punt on ASX uranium shares.

That was until the latest development in the Ukraine-Russia conflict.