US – Crane Co. helps drive 2.7 per cent increase in AGEM IndexBy Phil - 9 May 2023
The AGEM Index increased by 25.71 points in April 2023 to 971.52, a 2.7 per cent increase from the prior month.
Compared to one year ago, the index was up 109.10 points, or 12.7 per cent. During the latest month, six of the 12 AGEM Index companies reported stock price increases, which resulted in six positive contributions to the AGEM Index and six negative contributions.
The largest positive contribution to the monthly index was sourced to Crane NXT, Co., whose 20.1 per cent increase in stock price led to a 12.39-point gain to the index. Crane NXT, Co. completed its separation from Crane Company and launched as an independent publicly traded company on April 3, 2023, which played a role in the latest performance. Konami Corp. also saw its stock price increase by 10.2 per cent which lead to a 11.16-point gain for the index. The largest negative contribution to the index was sourced to Everi Holdings Inc, whose 11.4 per cent decrease in stock price resulted in a 3.54-point loss for the AGEM Index.
All three major US stock indices saw month-over-month increases for the second consecutive period in April 2023. The Dow Jones Industrial Average increased by 2.5 per cent from March, while the S&P 500 grew by 1.5 per cent. Meanwhile, the NASDAQ increased by 0.04 per cent from the prior period.
Note: In April 2023, Crane NXT, Co. separated from Crane Company. The listed stock price prior to that date is a pro forma calculated estimate.