Uranium Stocks Gain as First Japanese Nuclear Plant Restart Approved (CCJ) (DNN) (URA)

Uranium stocks and the underlying commodity are higher Friday following news that the local Japanese government approved the restarting of two reactors at the Sendai nuclear plant, becoming the first to restart since the Fukushima meltdown in 2011.

Before the Fukushima disaster, 30% of the country's power was generated by nuclear. However, the disaster forced the shut-down of all 48 plants in the country. Prime Minster Shinzo Abe has been pushing for the restarting of the plants, saying the extended shut down is hurting the economy.

"I have decided that it is unavoidable to restart the No. 1 and No. 2 Sendai nuclear reactors," Kagoshima Governor Yuichiro Ito said. "I have said that assuring safety is a prerequisite and that the government must ensure safety and publicly explain it thoroughly to residents."

Uranium stocks and ETFs: Cameco Corporation (NYSE: CCJ) (+9.2%), Denison Mines Corp. (NYSE: DNN) (+22%), Uranium Resources, Inc. (NASDAQ: URRE) (+19%), Uranerz Energy Corp. (NYSE: URZ) (+12.5%), Uranium Energy Corp. (NYSE: UEC) (+1.8%), Global X Uranium ETF (NYSE: URA) (+9.2%).

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