Browse > Home / Biofuels Digest Index (BDI), Stock & Financial Outlook / Biofuels Digest Indexâ„¢ rises 0.89% as the market returns to biofuels for second consecutive day

Biofuels Digest Indexâ„¢ rises 0.89% as the market returns to biofuels for second consecutive day

September 27, 2007

The Biofuels Digest Indexâ„¢, a basket of 21 public biofuel stocks, rose 0.89% to 100.16 as investors returned to the sector for a second straight day following a capital flight earlier in the week. Oil rose to more than $82 per barrel, prompting reconsideration of the merits of Big Ethanol.

Major ethanol players Pacific Ethanol (PEIX), Aventine (AVR), VeraSun Energy (VSE) and Archer-Daniels-Midland (ADM) were all up for the day, with Pacific Ethanol rising 8.97% to $9.48.

Earlier in the day, all major ethanol stocks were down on news of a downgrade by Goldman Sachs analyst Arjun Murti. Murti cited poor pricing and cost outlooks in cutting his share price targets and said that there might be a “dead cat bounce” proving short term gains as investors took advantage of the low stock price, but that fundamentally the stocks would continue their downward spiral.

The broader markets were up modestly today, with the Dow up 34.79 points to 13912.94, the S&P up 5.96 to 1531.38, and the Nasdaq up 10.56 to 2709.59.

  • Biofuels Digest Indexâ„¢ falls for 4th consecutive session, dips to 116.91, down 15 percent since January 1st
    • The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, fell 0.72 percent Friday to close at 116.91, down more than 15 percent for the year to date. It was the fourth consecutive d...
  • Biofuels Digest Indexâ„¢ plunges 2.28% as the broad market pulls back
    • The Biofuels Digest Indexâ„¢ (BDI), a basket of 21 major public biofuel stocks, fell 2.28% today to 100.94 as the market retreated on economic data that showed that borrower credit worthiness had ...
  • Biofuels Digest Index falls 1.84 percent in third consecutive drop
    • The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, fell 1.84 percent to close at 120.08, as a third day of major declines in agribusiness matched a renewed spiral in ethanol s...
  • Biofuels Digest Index drops 2.13 percent to 116.74 as ethanol spreads narrow
    • The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, dropped 2.13 percent yesterday to close at 116.74 for a third consecutive day of losses, as investors punished diversified a...
  • Aventine reports income up on lower corn costs, high co-product returns
    • In Illinois, Aventine Renewable Energy released its results for the fourth quarter, reporting net income for the fourth quarter of $3.3 million, or $0.08 per fully diluted share, on EBITDA of $11.4 mi...
  • Biofuels Digest Index jumps 1.56 percent to 115.97 as recession fears ease
    • The Biofuels Digest Indexâ„¢, a basket of public biofuels stocks, rose 1.56 percent yesterday to 115.97, after declining for five consecutive sessions. Among diversified agribusiness, Archer Da...

    Written by Jim Lane · Filed Under Biofuels Digest Index (BDI), Stock & Financial Outlook 

    Comments

    Got something to say?

    You must be logged in to post a comment.