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USEC Inc. Message Board

  • lewis_whokeyser lewis_whokeyser Jul 24, 2013 6:31 AM Flag

    Euro Strengthening Is Good for USEC

    EU

    Evidence of an economic revival in the euro zone lifted world shares and the euro on Wednesday, offsetting earlier disappointing factory data from China.

    Factories in the currency bloc increased output for the first time in well over a year, July's PMI index showed, after activity in Germany and France hit multi-month highs.

    The data drove the euro to a one-month high against the dollar, helped extend a rally in European shares (.FTEU3) and sent German bond futures down 0.3 percent.

    MSCI's world equity index edged 0.1 percent higher to be up over 9.0 percent since its late-June lows.

    Chief economist Chris Williamson of data compiler Markit said the German reading, which came in above the 50 mark that separates growth from contraction, indicated Europe's largest economy could grow by up to 0.4 percent in the third quarter.

    "It's a very encouraging picture, it's pretty broad-based. Germany is leading the pack followed by France but even the (euro zone) periphery ... is seeing a return to growth in manufacturing," s Williamson said.

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    • How so? USec is no longer an enricher with closing of Paducah GDP. Revenues set to go down 75% or more end of this year. According to USec, HEU agreement provides about 50% revenues, paducah the rest. USec is losing both sources of revenue 2013, replaced with new Russkie agreement stated as to be only half current HEU, and not to reach half until 2015. Simple math computes 75% minimum revenue loss. Problem is 2008 Domenici amendment limits Russian swu to USA customers. That's the reason USec says majority of Russian transition agreement imports to be sold outside USA and they go further and warn they may not be able to sell at all. Europe buys primarily Urenco. China doesn't buy from USec. Explain the connection you see USec to Euro.

 

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