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 sourced to Crane NXT, Co. (NYSE: CXT), whose 20.1 percent 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. (TYO: 9766) also saw its stock price increase by 10.2 percent, which lead to a 11.16-point gain for the index.
All three major U.S. stock indices saw month-over-month increases for the second consecutive period in April 2023. The Dow Jones Industrial Average increased by 2.5 percent from March, while the S&P 500 grew by 1.5 percent. Meanwhile, the NASDAQ increased by 0.04 percent from the prior period.
Editorial 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.
