New Energy Finance - NEX - Weekly Review

Tuesday May 6, 2008

Each week I post how the New Energy Finance Index, NEX, faired for the previous week. The NEX is a global index of renewable energy companies. The NEX is tracked by the ETF: PowerShares Global Clean Energy Fund (PBD: 29.29 +0.43 +1.49%). If you want to see former weekly reviews, look on my articles page under renewable energy.

Last week the NEX diverged from the broader U.S. markets. NEX had a negative 1.8% return, while the S&P 500 was up 0.8% and the NASDAQ gained 1.6%.

The leading sector for the week was power storage, up 3.5%. The “top” losing sector was solar energy, off 3.9%. On my interest radar, biofuels and biomass gained 1.1% with ethanol producer, Aventine (AVR: 4.81 +0.06 +1.26%) gaining 13.3%.

Here are the top and bottom stocks from the index for the week:

NEX top gainers since 29/04/08
Xingjiang Goldwind Science & Technology 2202 + 18.1%
Aventine Renewable Energy Holdings AVR + 13.3%
LDk Solar LDK + 10.7%
Umicore UMI + 10.2%
Saft Groupe SAFT + 8.9%

NEX top losers since 29/04/08
Echelon ELON - 18.6%
Zoltek ZOLT - 11.9%
Yingli Green Energy Holding YGE - 10.3%
JA Solar Holdings JASO - 8.9%
VeraSun Energy VSE - 8.3%