Biofuels Digest Index gains 3.45 percent to close at 119.48 as investors seek bargains

The Biofuels Digest Indexâ„¢ (BDI), a basket of public biofuels stocks, recovered 3.45 percent yesterday to close at 119.48 as investors went bargain shopping.

For the day, Archer Daniels Midland (ADM) rose 3.45 percent to close at $43.52, while among ethanol stocks Pacific Ethanol (PEIX) rose 15.38 percent to $4.95 on news of a $40 million cash infusion from by a supplier; Aventine Renewable Energy (AVR) rose 7.22 percent to $5.05.

Among small caps, Nova Biosource Fuels fell 18.93 percent to $1.37 after a downgrade by Ardour Capital.  Overall, advances led declines 3 to 1 for the day.

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