STOCK WATCH: Despite Brexit, Iowa stocks end June where they started
The vote June 23 in which Brits decided to leave the European Union might have made a penny’s worth of difference on the Iowa index, an unweighted average price of 23 Iowa-based public companies.
That 1 cent is how much the average value of the index dropped in June compared with May. Overall, the index declined 0.03 percent in June after dropping 0.04 percent in May. The Dow Jones industrial average, by comparison, ended the month with a 0.8 percent gain after losing nearly 4 percent on June 24, the day after the so-called Brexit vote.
Of course things would have been more rosy in June had the Iowa Index not dropped 3.73 percent to 31.71 on the day after the Brexit vote.
Thirteen of the stocks on the Iowa Index posted gains in June, with Windstream Holdings Inc. posting an increase of 10.49 percent and Casey’s General Stores Inc. adding 9.4 percent and bank holding company Ames National Corp. picking up 6.6 percent.
On the flip side, KemPharm Inc. lost 43.86 percent, one month after losing 57.19 percent of its value in May.
Click here to see the full Iowa Index.
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