U.S. bank Goldman Sachs Group Inc is putting its uranium trading business up for sale, a source familiar with the matter said on Friday.The move comes as other U.S. banks, including JPMorgan Chase & Co and Morgan Stanley, look to exit physical commodity trading in the wake of increased government scrutiny and forecasts for tepid demand for certain commodities.Goldman's decision was first reported by industry publication SparkSpread.In the United States, power generators, including those who purchase uranium to fuel nuclear reactors, are suffering from weak power prices, low growth in demand for electricity, and increased environmental regulations.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.63% or $1.06/share to $168.13. In the past year, the shares have traded as low as $115.62 and as high as $170.00. On average, 3297180 shares of GS exchange hands on a given day and today's volume is recorded at 2390074.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM traded higher by 0.38% or $0.215/share to $57.44. In the past year, the shares have traded as low as $39.88 and as high as $57.40. On average, 20416700 shares of JPM exchange hands on a given day and today's volume is recorded at 14950533.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.49% or $0.46/share to $31.35. In the past year, the shares have traded as low as $16.23 and as high as $30.78. On average, 13173400 shares of MS exchange hands on a given day and today's volume is recorded at 9874410.
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