First published in Quoted Cleantech, August 2010. Copyright Cleantech Investor Ltd. 2010
After a poor first half, renewable energy shares enjoyed a strong performance during July, with five of the eight cleantech indices that we track undergoing double-digit gains.
The best performer, up 15.9%, was the Ardour Solar Energy Index, which is heavily biased towards US solar stocks such as First Solar, Suntech Power and SunPower. Germany’s solar-heavy ÖkoDAX registered a comparatively smaller increase of 8.1%, although it had already seen a small gain in June as a result of optimism returning to the country’s solar sector.
The more US-focused NASDAQ Clean Edge Green Energy Index came third with an 11.6% increase.
The FTSE ET50 index, which follows a more diversified group of large cleantech businesses, including companies involved in water technology, improved by 9.9%.
A bounce in cleantech stocks was certainly overdue. But, with cleantech shares still significantly underwater compared to the start of the year, another good performance in August is needed in order to carry momentum into the autumn.
| Cleantech Indices | Value end Dec 09 | Value end Jun 10 | Value end Jul 10 | % change Jul 10 | % change YTD |
| Ardour Global Alternative Energy Index (AGIGL) | 1934,96 | 1452,26 | 1635,92 | 12,65% | -15,45% |
| Ardour Solar Energy Index (SOLRX) | 2229,6 | 1371,49 | 1589,43 | 15,89% | -28,71% |
| Deutsche Bourse ÖkoDAX | 314,23 | 246,11 | 266,12 | 8,13% | -15,31% |
| FTSE ET50 Index | 164,4 | 132,96 | 146,08 | 9,87% | -11,14% |
| Renewable Energy Industrial Index (RENIXX) | 749,25 | 574,63 | 604,89 | 5,27% | -19,27% |
| Nasdaq Clean Edge Green Energy Index (CELS) | 211,7 | 175,42 | 195,74 | 11,58% | -7,54% |
| WilderHill New Energy Global Innovation Index (NEX) | 248,68 | 179,54 | 200,01 | 11,40% | -19,57% |
| WilderHill Clean Energy Index (ECO) | 111,35 | 83,79 | 92,82 | 10,78% | -16,64% |
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