Wednesday, April 14, 2010

Energy Resources Falls on Weak Uranium Price Outlook

April 12, 2010,
11:41 PM EDT
By James Paton

April 13 (Bloomberg) -- Energy Resources of Australia Ltd. headed for the biggest drop in more than five months in Sydney trading after saying prices in the first half of 2010 may be lower than previously expected.

The uranium producer controlled by Rio Tinto Group fell 5.3 percent to A$18.64 at 1:33 p.m., poised for the steepest decline since Oct. 29, and compared with a retreat of 0.4 percent in the benchmark S&P/ASX 200 Index.

The uranium spot price may remain flat.

Read more:
http://www.businessweek.com/news/2010-04-12/energy-resources-falls-on-weaker-outlook-for-uranium-prices.html