MARKET DEVELOPMENT
Biofuels Digest Index Slips To 73.61 as MNEL Drops on Palm Oil Biodiesel Ruling
Biofuels Digest Index Slips To 73.61 as MNEL Drops on Palm Oil Biodiesel Ruling
01/02/2012 (Biofuels Digest) - ShareThe Biofuels Digest Index™ (BDI), a basket of public biofuels stocks, slipped 0.38 percent to 73.61 as Mission NewEnergy continued to plunge. For the day, BP recovered 1.01 percent to $44.14, while Mission NewEnergy (MNEL) dropped a stunning 36.18 percent to $0.97 after palm oil biodiesel outlook for the US darkened. Among other equities, KiOR (KIOR) plummeted 6.32 percent to $12.00. Overall, declines led advances 7 to 6 for the day.