Weekly global equities Week ending 25 September 2026

Uranium

For the week ending 25 September 2026, Uranium declined 1.81% with 12 advancing, 33 declining, and 5 unchanged constituents.

Index level: 1,490.53
Weekly return: -1.81%
Measured equities: 50
Rank within sector: 8 of 8

Explore Energy →

156 completed weeks

Uranium price and trend

Explore the index, how widely companies share the move, the trend’s momentum and declines from previous highs.

Trend structureRotation Down Index vs Trend-10.6% 13-week persistence-2.1% Advancing participation24%

Index Value Trend Line Fair Value Activity Lines Constructive Transition Defensive

Weekly index closes and the Trend Line. Dashed grey shows the latest Fair Value reference; it is not a historical forecast. Enable the other overlays for more detail.

Performance in context

Uranium in context

Price and participation determine the view. Sentiment remains a separate confirmation layer.

Current view

Defensive posture

The weight of trend, participation and relative evidence favours capital protection over new exposure.

32/100Defensive32/100Position

Sentiment held separateQualified news coverage is too thin to alter the technical positioning view.

Five measures

Quality of the positioning case

Trend

Breadth

Persistence

Relative

Risk quality

Parent-relative performance

Returns versus Energy

Composite rank 8 of 8

HorizonReturnRelative

1 week-1.8%-0.1 pts

4 weeks-11.3%-10.7 pts

13 weeks-2.1%-11.1 pts

26 weeks-12.1%-9.4 pts

52 weeks-15.5%-35.4 pts

Return is the industry index’s change. Relative is its return minus Energy, in percentage points.

Relative leadership path

Uranium versus Energy

Weakening

Relative performance13-week relative trendStarting level · 100

Both indexes are compared from the same starting date. Above 100 means Uranium has outperformed Energy since that date; below 100 means it has lagged. A rising line indicates improving relative performance, even when both markets are falling.

Supporting evidence

Confirmation and conflict

!Index trend architecture has not delivered a durable upward expansion.

!Breadth remains too narrow or inconsistent for a high-conviction position.

!Constituent persistence remains divided or predominantly negative.

!The group is not yet delivering dependable relative outperformance.

!Stage 4 declining constituents exceed Stage 2 advancing constituents by 72 percentage points.

!Positive contribution is concentrated in a small leadership cohort.

Decision boundaries

What would change the view?

1A completed weekly reclaim of 1,666.53, the higher of Trend Line and Fair Value, would improve the structural case.

2Breadth holding above 55% for several completed weeks would show that repair is spreading.

3Positive 13 and 26-week relative performance would confirm that capital is rotating into the group.

Trend state and durability

Trend, durability and market stages

The industry index path is tested against the securities beneath it.

Index trend structure

Rotation Down

1 weeks

Fast Activity Lines are losing the slow pair and price acceptance is deteriorating.

Trend conditionDownActivity Line spread3.92%Closes above Activity Lines33%Closes below Activity Lines50%

Six completed weeks of price acceptance relative to the full Activity Line fan.

Index persistence

Negative across every horizon

100% agreement

The 13, 26, 39 and 52-week trends all point downward, confirming persistent contraction.

13-week

-2.1%

26-week

-12.1%

39-week

-7.2%

52-week

-15.5%

Regime age2 weeks52-week flips152-week boundary1763.69

Company trends

How broadly durable is the move?

90% coverage

42%positive

Coherent positive11%

Coherent negative31%

Horizon agreement78%

Weakening positives12

Repairing negatives3

45 constituents measured as of 18 Sep 2026.

Market stages

Where companies sit in the cycle

86% coverage

79%Stage 4

Stage 1 Basing9%4

Stage 2 Advancing7%3

Stage 3 Distribution5%2

Stage 4 Declining79%34

Re-acceleration0Transition watch2Fair Value repairs3

Stage coverage is shown explicitly and is not substituted for full-universe persistence coverage.

Countries and regions

Where Uranium strength is developing

Country returns, participation and Trend position show whether the global result is widely shared or locally concentrated.

Countries measured49 represented in the full universe

Positive countries1 / 4Latest weekly return above zero

Above Trend Line0%0 country indexes

Return dispersion3.45 ptsCross-country opportunity and divergence

North America0.33%

2 countries · 17 equities · 34% of measured coverage

Participation35%Countries above Trend0%

Asia Pacific-1.68%

1 countries · 23 equities · 46% of measured coverage

Participation26%Countries above Trend0%

Europe-7.75%

1 countries · 4 equities · 8% of measured coverage

Participation0%Countries above Trend0%

Country evidence map

Return, breadth and trend condition

Minimum 3 constituents

🇺🇸US7 1.52% 43% up · below Trend 🇨🇦CA10 -0.51% 30% up · below Trend 🇦🇺AU23 -1.68% 22% up · below Trend 🇬🇧GB4 -7.75% 0% up · below Trend

5 thin country slices are excluded from comparative conclusions. Their securities remain in the global index.

Country leadership

Strongest country readings

🇺🇸United States7 equities1.52%

🇨🇦Canada10 equities-0.51%

🇦🇺Australia23 equities-1.68%

🇬🇧United Kingdom4 equities-7.75%

Country pressure

Weakest country readings

🇬🇧United Kingdom4 equities-7.75%

🇦🇺Australia23 equities-1.68%

🇨🇦Canada10 equities-0.51%

🇺🇸United States7 equities1.52%

Related industries

Where Uranium sits inside Energy

Relative performance over four and thirteen weeks, alongside participation, separate durable leadership from a one-week move.

Composite rank8 / 8 Leading3 Lagging4 Above Trend3 / 8 Return dispersion1.32 pts

Relative rotation map

Is this industry gaining or surrendering leadership?

↑ Four-week return versus Energy Percentage-point difference

Improving

Leading

Lagging

Weakening

0 1 2 3 4 5 6 7 8

Thirteen-week return versus Energy →

Numbers match the ranking. Larger markers represent more constituents. Fine lines connect separated markers to their actual positions.

Explore the rotation mapHover or focus a marker or ranking to inspect its relative returns.

Leadership quality · latest completed week

Do the leaders have broad support?

3 of 3 relative leaders with breadth data have fewer than half their companies advancing this week. Leadership is not yet matched by broad weekly participation.

Top six by composite scoreCompanies advancing13-week
relative return

Oil & Gas Refining & Marketing

36%

+11.6 pp

Oil & Gas Integrated

43%

+4.9 pp

Thermal Coal

39%

+2.4 pp

Oil & Gas E&P

21%

+0.4 pp

Oil & Gas Midstream

12%

-2.1 pp

Oil & Gas Equipment & Services

31%

-7.4 pp

The tick marks 50% advancing; unchanged companies remain in the denominator. A weak week can challenge a longer lead without reversing it. Relative return is measured against Energy.

Composite industry ranking

Momentum with confirmation

Score / 100

Oil & Gas Refining & MarketingLeading · 36% advancing

100 2

Oil & Gas IntegratedLeading · 43% advancing

82 3

Thermal CoalWeakening · 39% advancing

44 4

Oil & Gas E&PLeading · 21% advancing

40 5

Oil & Gas MidstreamLagging · 12% advancing

33 6

Oil & Gas Equipment & ServicesLagging · 31% advancing

8 7

Oil & Gas DrillingLagging · 14% advancing

3 8

UraniumLagging · 24% advancing

The score combines relative returns, weekly participation and the gap to Trend. It ranks the evidence; it is not a probability or an expected return.

Participation and risk

Breadth, momentum and risk

The headline index is tested against participation, volatility, drawdown and the distribution of security returns.

Advancing participation24.0%-17.9 points versus recent baseline

13-week positive weeks46%Index-level hit rate

Annualised volatility37.4%52-week index return volatility

Current drawdown-32.0%From the 52-week index high

156-week max drawdown-43.5%Peak-to-trough index decline

Market participation

Net advancing participation

Range -100 to +100

Trend momentum

Trend Line rate of change

Positive or negative slope

Company returns

What the headline return conceals

50 equities

Average loser-4.85%

Average winner+6.91%

Median equity-2.19%The middle security, less sensitive to extreme movers

Interquartile range-4.62% to 0.00%The central half of the universe

Security dispersion7.68 ptsCross-sectional opportunity and stock-selection risk

News and price confirmation

News and price agreement

Open sentiment intelligence

News snapshot prepared 27 Sep 2026, 18:03 BST for this weekly report.

Qualified sentiment coverage for this industry is still building.

Company performance

The equities driving the result

Weekly leaders and laggards reveal whether the index move is broad, concentrated or vulnerable to reversal.

Leadership

Strongest weekly contributors

EUenCore Energy Corp. Common SharesUS38.36%ZEUZeus Resources LimitedAU14.29%LAMLaramide Resources Ltd.CA9.43%NHUNEUHORIZON FPO [NHU]AU5.63%BKYBerkeley Energia LimitedAU4.44%BSNBasin Energy LimitedAU3.45%

Pressure

Weakest weekly contributors

NEONeo Energy Metals PlcGB-18.68%ADDAdavale Resources LimitedAU-9.89%2302CNNC International LimitedHK-9.72%UROYUranium Royalty CorpUS-9.21%PENPeninsula Energy LimitedAU-8.93%BKYBerkeley Energia LimitedGB-8.76%

Latest week

All industry constituents

Showing 1-30 of 50, sorted by weekly return.

Latest completed weekly prices in each listing’s currency. All constituents remain available through the pages below.
Ticker	Company	Market	Open	High	Low	Close	Return
EU	enCore Energy Corp. Common Shares	US · NASDAQ	0.9499	1.28	0.928	1.24	38.36%
ZEU	Zeus Resources Limited	AU · ASX	0.007	0.008	0.007	0.008	14.29%
LAM	Laramide Resources Ltd.	CA · TOR	0.52	0.60	0.52	0.58	9.43%
NHU	NEUHORIZON FPO [NHU]	AU · ASX	0.071	0.078	0.064	0.075	5.63%
BKY	Berkeley Energia Limited	AU · ASX	0.455	0.47	0.45	0.47	4.44%
BSN	Basin Energy Limited	AU · ASX	0.029	0.03	0.029	0.03	3.45%
MGA	Mega Uranium Ltd.	CA · TOR	0.54	0.59	0.53	0.55	1.85%
AMU	American Uranium Limited	AU · ASX	0.064	0.068	0.063	0.064	1.59%
LEU	Centrus Energy Corp.	US · NYSE	149.56	158.89	144.90	147.07	1.27%
AEC	Anfield Energy Inc.	US · NASDAQ	3.58	3.84	3.26	3.64	1.11%
U-UN	Sprott Physical Uranium Trust Fund	CA · TOR	26.61	27.39	26.18	26.84	0.86%
BKY	Berkeley Energia Limited	ES · MCE	0.291	0.304	0.291	0.293	0.69%
AGE	Alligator Energy Limited	AU · ASX	0.041	0.043	0.041	0.041	0.00%
AURA	Aura Energy Limited	GB · LSE	0.0575	0.06	0.055	0.0575	0.00%
EME	Energy Metals Limited	AU · ASX	0.08	0.08	0.08	0.08	0.00%
ERA	Energy Resources of Australia Ltd	AU · ASX	0.002	0.002	0.002	0.002	0.00%
T92	Terra Critical Minerals Limited	AU · ASX	0.046	0.046	0.045	0.046	0.00%
PDN	Paladin Energy Ltd	CA · TOR	9.95	10.45	9.31	9.54	-0.10%
NXE	NexGen Energy Ltd.	CA · TOR	13.62	14.15	12.98	13.02	-0.46%
EF2	ENERGYFUEL CDI 1:1 [EF2]	AU · ASX	16.20	16.85	16.00	16.20	-0.74%
EFR	Energy Fuels Inc.	CA · TOR	17.13	17.49	15.81	16.11	-1.53%
NXE	NexGen Energy Ltd.	US · NYSE	9.69	10.06	9.17	9.19	-1.71%
NXG	NexGen Energy Ltd.	AU · ASX	13.38	14.09	13.04	13.16	-1.72%
NUCL	Eagle Nuclear Energy Corp. Common stock	US · NASDAQ	6.20	6.55	6.00	6.16	-1.91%
EL8	Elevate Uranium Ltd	AU · ASX	0.24	0.26	0.235	0.235	-2.08%
AEU	Atomic Eagle Limited	AU · ASX	0.445	0.48	0.41	0.425	-2.30%
ISO	IsoEnergy Ltd.	CA · TOR	13.82	14.64	13.06	13.30	-2.35%
CCO	Cameco Corporation	CA · TOR	130.57	134.11	124.16	124.51	-2.80%
PDN	Paladin Energy Ltd	AU · ASX	9.88	10.69	9.51	9.55	-2.85%
UEC	Uranium Energy Corp.	AT · VIE	8.68	9.06	8.23	8.42	-3.05%