AGEM Index posts slight m-o-m drop in October

Nov 06, 2014 Newsdesk Industry Talk, Latest News, Top of the deck  

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The AGEM Index fell by 0.3 percent in October compared with the previous month. This represented the second consecutive monthly decline while the index was down in eight of the past 12 months.

Compared to a year ago, the AGEM Index decreased by 3.4 percent in October, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC, which jointly compile the register.

In October, 10 of the 17 global gaming equipment manufacturers tracked by the index reported declines in stock price when compared to September. The biggest drop was posted by Greek lottery supplier Intralot SA, down by 29.4 percent in monthly terms. Taiwanese slot-machine maker Astro Corp and U.S.-based Transact Technologies Inc, a supplier of printers and printing software to the gaming and lotteries industries, also reported double-digit monthly drops in share price.

Broader equities markets trended in a positive direction, contrasting with the AGEM Index. The Dow Jones Industrial Average ended October at 17,390.52 points, which was up 2.0 percent from September. The S&P 500 reported a 2.3-percent increase during the month, while the Nasdaq witnessed the greatest monthly gain, up 3.1 percent to 4,630.74 points.

The AGEM Index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on approximation of market capitalisation. It is based on a 100-point value as of January 2005.

Of the 17 gaming suppliers included in the index, 12 are listed in the United States, while two trade on the Australian exchange. One supplier trades on the Athens exchange, one trades on the Milan exchange and another trades on the Taiwan OTC exchange.

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