Biofuels Digest Indexâ„¢ flat at 121.93 as Pacific Ethanol soars on DOE grant award

January 31, 2008

The Biofuels Digest Indexâ„¢ (BDI) remained flat yesterday, rising 0.02 percent to 121.93 as slight increases at Archer Daniels Midland (ADM) and a bullish roar on Pacific Ethanol (PEIX) offset a biofuels investor retreat.

For the day, declines led advances 5 to 2, with Archer Daniels Midland (ADM) up 0.12 percent to $42.99, and Pacific Ethanol (PEIX) leaping 11.49 percent to $6.21 on news that it had received a $24 million grant from the Department of Energy for its cellulosic ethanol developments.

Among small caps, Green Plains Renewable Energy GPRE) was up 5.74 percent to $12.16, but biofuels stocks and the broader market failed to rally on the half-point interest rate cut by the Federal Reserve.

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The Biofuels Digest Indexâ„¢, a basket of public biofuels stocks, rose 0.04 percent yesterday in flat trading to close at 112.55. The close represented a 52-week high for the Index. Losers and ...

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