AMSTERDAM (dpa-AFX Broker): Shares of Verbio reacted with a significant discount on Friday morning following a decline in oil prices. The biofuel producer's stock fell to its lowest level in three months, recently trading down 4.8 percent at €31.50 as the bottom performer in the SDax small-cap index. This latest drop brings the cumulative loss since the interim peak in early April to approximately one-third. The year-to-date gain has narrowed to just under 50 percent.
Oil prices slumped on Friday after U.S. President Donald Trump called off strikes against Iran that had been announced for Thursday evening, once again suggesting a framework agreement could be reached soon. Iran also spoke of a possible imminent conclusion to negotiations.
Verbio benefits from high oil prices, as consumers at gas stations are then more likely to choose E10 over even more expensive premium gasoline. Verbio produces bioethanol, among other products, which is blended with conventional gasoline to create E10./edh/stk/ag
