The AGEM Index decreased in August 2019 by 21.60 points to 473.36 points, a 4.4 per cent drop from July 2019.
The decline was driven largely by a 2.9 per cent decrease in the stock price of Aristocrat Leisure Limited, which declined from AU$30.65 to AU$29.75. The stock was responsible for 9.62 points of the AGEM Index’s monthly decrease. Crane Co.experienced an 8.9 per cent stock price drop from $83.70 to $76.24, which led to a contribution of negative 6.77 points. Overall, most AGEM Index companies reported decreases in stock price during the month, with four trending positively and nine moving negatively.
The major stock indices did not perform well as the Dow Jones Industrial Average and the S&P 500 experienced monthly declines of 1.7 per cent and 1.8 per cent, respectively. The NASDAQ also did not have a strong month, decreasing by 2.6 per cent.