Biofuels Digest Indexâ„¢ drops 1.48% as Archer-Daniels-Midland takes a tumble

September 29, 2007

The Biofuels Digest Indexâ„¢, a basket of 21 public biofuel stocks, fell 1.48% to 98.68 as ethanol giant Archer-Daniels-Midland led the sector down by dropping 1.69% to $33.08. Oil rose to more than $83 per barrel, boosting major ethanol stocks such as Pacific Ethanol (PEIX), Aventine (AVR) and VeraSun Energy (VSE).

Environmental Power (EPG) lost 14.52% to close at $5.30 on morning news that its new offering of 5.4 million shares priced at $5.25 per share.
Winners led losers 8 to 7, but solid gains on the biodiesel side with Nova Biosource Fuels (NBF) up 4.07% to $2.81 could not fully offset the downside influence of ADM.
The broader markets were down slightly, with the Dow losing 17.31 points to close at 13895.63, the S&P down 4.63 to 1526.75, and the Nasdaq down 8.09 to 2701.50.