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Biofuels Digest Index drops 4.58 percent on bad reaction to ADM working capital equity raise

May 29, 2008

The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, had a shock drop of 4.58 percent to 111.81 as investors reacted to a potential drop in earnings per share at ADM after a $1.75 equity offering, combined with overall weakness in ethanol stocks. For the day, Archer Daniels Midland (ADM) fell 4.98 percent to close at $39.86, while Pacific Ethanol (PEIX) fell 12.86 percent to close at $3.59.

Among small caps, Xethanol (XNL) fell 6.02 percent to close at $0.47. Overall, declines and advances were even for the day.

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

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