AGEM Index slight monthly gain in June amid pandemic
The AGEM Index for stocks of major casino equipment suppliers increased by 4.53 points in June to 407.41 points, a 1.1-percent gain from May. Judged year-on-year, June’s result was down 19.4 percent.
Six of the 13 firms on the index reported month-on-month stock price increases in June despite what the Association of Gaming Equipment Manufacturers (AGEM), which issues the indicator, described as “ongoing uncertainty about the global economy and the effects of the Covid-19 pandemic”.
The stock price of Aristocrat Leisure Ltd – the largest-single contributor to the index’s value in June – nonetheless decreased by 0.9 percent sequentially, due to “the Australian dollar strengthening against the U.S. dollar”, said AGEM. Judged year-on-year, Aristocrat Leisure’s June stock price decreased by 17.0 percent.
Crane Co – the second-largest individual contributor to June’s index – saw a 6.7 percent month-on-month increase in stock price, which led to an index contribution of 3.93 points. But the company’s stock price in that month declined by 28.7 percent year-on-year.
Most other constituent companies of the AGEM Index have also seen a double-digit year-on-year decrease in stock price during June.
In June, “all three major U.S. stock indices increased, as the Dow Jones Industrial Average grew by 1.8 percent and the S&P 500 grew by 1.7 percent,” noted the gaming sector trade body. The Nasdaq “experienced a gain of 6.0 percent” for the month, it added.
The AGEM Index is produced in association with Applied Analysis LLC, a Nevada-, U.S., -based research firm.
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