LIVE MARKETS-Uranium scarcity: bane or boon?

US equity indexes mixed, Nasdaq up 0.7%, Dow dips Only two S&P sectors positive, materials weakest STOXX 600 up 0.1% Dollar, gold edge up; crude flat; bitcoin down >2% US 10-Year Treasury yield climbs to 4.11% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at URANIUM SCARCITY: BANE OR BOON? While the market dynamics, technological advancements and supportive policy framework are aligning to enable a nuclear renaissance, uranium procurement remains the primary hurdle to its realization, Barclays strategists say. With the majority of uranium mining is concentrated in Central Asia, primarily Kazakhstan, its political ties to Russia renders a significant portion of global production exposed to geopolitical risks in the form of sanctions and export controls, the brokerage said. Barclays cited a report published by the World Nuclear Association, stating that while demand for uranium is set to rise by a third by 2030, the output from current mines is expected to reduce to half its existing production by 2040. On one hand, while uranium’s complex and multi-step processing cycle makes it vulnerable to disruptions at any stage of the cycle, the strategic importance of the sector creates opportunities for companies involved in the various stages of the uranium fuel cycle. The Global X Uranium ETF (URA.P) jumped more than 100% year-to-date, set for its best yearly showing on record, according to data compiled by LSEG. “We see the evolving picture related to uranium and the associated contingency of nuclear build-out as a risk that is underappreciated, and underpriced, by the market,” said Barclays strategists led by Jordan Isvy in a two-part note series titled “Nuclear Renaissance.” The need for nuclear power to support the insatiable data center boom has not only brought the uranium trade to the forefront of investor focus but has also led to the research of potential alternatives for the scarce commodity. “One potential alternative that is considered is thorium, with thorium reactors less prone to meltdown and therefore deemed safer,” Isvy said. However, their lack of commercial readiness makes uranium dependence the best bet for power producers in the near future, Barclays said. (Kanchana Chakravarty) EARLIER ON LIVE MARKETS: AI REVENUES TO HIT $975 BILLION BY 2030, SAYS CITIGROUP CLICK HERE FUTURES POINT TO HIGHER OPEN FOR S&P 500, NASDAQ CLICK HERE THE CONTRADICTION OF RETAIL INVESTORS AND PRIVATE CREDIT - BOFA CLICK HERE EARNINGS SEASON HALFWAY SCORE: US LEAVES EUROPE FAR BEHIND CLICK HERE AUTOS BOUNCE BACK, DAX OUTPERFORMS CLICK HERE BEFORE THE BELL: EUROPE STARTS NOVEMBER STEADY CLICK HERE PRIVATE JOBS IN SPOTLIGHT AMID DATA BLACKOUT CLICK HERE