China General Nuclear Power Corp (CGN) on Saturday said it respects the decision of the new British government to review a nuclear power project in which it would hold a major stake, according to a statement on the company's official microblog. "We understand, given the importance of the Hinkley Point C programme to England's future energy security, that the new British Government has expressed a need for time to familiarise itself with the programme. CGN understands and respects this," the company said.
Wall Street, seeking direction as the S&P 500 has been stuck in a narrow trading range for 12 days, will next week shift its attention from second-quarter corporate earnings reports to economic data. Investors will be looking for signs of economic strength to reinforce the positive direction hit Friday, when the S&P 500 hit an intraday record high. The overall tone will be of an economy that is getting better at a reasonable pace," said John Manley, chief equity strategist at Wells Fargo Funds Management in New York.