The AGEM Index increased by 25.71 points in April 2023 to 971.52, a 2.7 percent increase from the prior month. Compared to one year ago, the Index was up 109.10 points or 12.7 percent. 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 from Crane NXT, Co., whose 20.1 percent increase in stock price led to a 12.39-point gain to the Index. Crane NXT, Co. (NYSE: CXT) 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 percent, which led 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 percent decrease in stock price resulted in a 3.54-point loss.
All three major U.S. stock indices saw month-over-month increases for the second consecutive period in April. The Dow Jones Industrial Average increased by 2.5 percent from March, the S&P 500 grew by 1.5 percent, and the NASDAQ increased by 0.04 percent 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.
