EAFA fell 2.2%; Emerging Markets, S&P500, and commodities (DJP) treaded water.
The two key strategies, Renewable Electricity and Solar, posted gains for the week.
Renewable Electricity also saw a 1.1% advance with Canadian Hydro Developers (KHD.TO) leading the way with a 23.7% gain, the best performance for the week in the TSX Composite Index. The company had an analyst upgrade during the week which apparently triggered the gain. Another notable gain was notched by Suzlon (SUZLON.NS) which reported strong earnings growth in their last quarter.
LED-Lighting had a dismal week with the group falling 9.4%. Rubicon (RBCN) led the way down despite reporting in their Wednesday morning call that they beat guidance. The sell-off started on Thursday after Oppenheimer downgraded the stock and continued through Friday declining 23.5% for the week. Management reported continued enthusiasm for the LED segment but expressed some uncertainty regarding their SoS segment which accounts for about 30% of their business. Investors apparently have almost written off the SoS business line.
Mark is the founder of Camino Energy, an information provider specializing in globally traded sustainable energy stocks. He also is an investor in sustainable energy stocks and has positions in Renewable Electricity, including KHD.TO.