Author: Mark Henwood
Broad market indices (Emerging Markets, EAFA, S&P500) all rose this week. Camino’s PurePlay™ indices were mixed with Renewable Electricity showing a 0.8% gain. Commodities (NYSEARCA:DJP) declined 2.6%.
Solar was the story of the week with our 34 member index decreasing 4.2% amid huge volatility.
The market moves this week were evidence of investors valuing companies based on government subsidies packages. On the 28th and 29th we saw reports that reductions in German subsidies might be greater than originally expected. And at the close of business on the 29th our index was down 9.2% for the week. Then on Friday reports came out that feed-in tariff reductions would be roughly in line with previous expectations – Solar rises 5.6% and closes out the week down only 4.2%.