Google was reported to be entering into a long-term nuclear power purchase agreement with major US power company Constellation Energy, prompting related stocks to react. Sukegawa Electric Co. surged.
In the previous day's US market, Constellation Energy, a major US power company that owns the former Three Mile Island nuclear plant, rose sharply. The catalyst was Google's agreement with the company to purchase power from 890 MW of new nuclear capacity, along with a separate 2,700 MW supply agreement.
Nuclear-related stocks broadly rose on the agreement. NuScale Power and Oklo, which develop small modular reactors, and Uranium Energy, a uranium exploration company, also rose sharply. Domestic stocks involved in nuclear plant components were also bought, with Nippon Gear Co., Ltd., Okano Valve Manufacturing Co., Ltd. and Mitsubishi Heavy Industries, among others, including Sukegawa Electric Co., rising.
Among individual stocks, Sukegawa Electric Co. surged. Stocks in the related sector were bought in response to moves in nuclear-related stocks.