AGEM Index posts additional increase in October resulting in 13th successive month of year-on-year growth.
[dropcap]T[/dropcap]he AGEM Index posted another increase in October 2016 after gaining 20.46 points the previous month. The composite index stood at 321.90 points at the close of the month, which represents an increase of 15.04 points, or 4.9 percent, when compared to September 2016.
The AGEM Index reported a year-over-year increase for the 13th consecutive month, rising 124.68 points, or 63.2 percent, when compared to October 2015.
During the latest period, six of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price, with three up by more than 10 percent. Seven manufacturers reported decreases in stock price during the month, with four reporting double-digit drops.
The broader stock markets reported negative results in October 2016 due partially to speculation surrounding the upcoming national election. The S&P 500 reported a month-to-month decrease of 1.9 percent, falling to 2,126.15. Additionally, the Dow Jones Industrial Average decreased 0.9 percent to 18,142.42, while the NASDAQ decreased 2.3 percent during the period to 5,189.14.
Selected positive contributors to the October 2016 AGEM Index included the following: International Gaming Technologies (IGT) contributed 12.51 points due to a 17.80 percent increase in stock price to $28.72, Crane Co. (CR) reported a stock price of $68.01 (+7.94 percent) and contributed 3.84 points. With a stock price of ¥4,145 (+6.42 percent), Konami Corp (TYO: 9766) contributed 2.45 points to the overall index. With a stock price of AU$15.34 (-2.97 percent), Aristocrat Technologies (ASX) contributed negative 3.32 points. Ainsworth Game Technology (AGI) contributed negative 1.16 points due to a 20.89 percent decline in stock price to AU$1.78.