By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, May 31, 2016

Global equities were mostly lower in trading on Tuesday as market participants remained cautious ahead of the Federal Reserve’s monetary policy meeting. The Fed will meet later this month and there are indications that the central bank will hike interest rates for the second time in six months. The Fed’s decision will be largely based on the jobs report for the month of May. If the jobs report, which comes later this week, is strong then a rate hike may be imminent.

It is not surprising then that investors are cautious ahead of the crucial jobs report. In North America, U.S. markets opened after a long weekend. At last check, the Dow Jones and the S&P 500 were lower, while the NASDAQ was marginally higher. The Canadian benchmark index was higher in late trading.

One of the major movers in the Canadian market today is NYX Gaming Group Ltd. (TSX-Venture:NYX). NYX is a supplier of digital gaming software. The company is engaged in the design, development, manufacture and distribution of digital gaming solutions for interactive, social and mobile gaming across the world. The Company provides gaming solutions, a distribution platform, gaming process support services, brand and player management, and both Real Money Gaming (RMG) and social gaming products and services. The Company's content platform has around 350 own and around 550 third-party supplied lottery, bingo and casino products.

At last check, NYX shares were trading 1.08% higher at $2.80 on volume of 424,040, which is more than double the daily average volume of 195,903. While shares are up so far today, the stock is stuck near the bottom of its 52 week trading range.

NYX shares are gaining momentum after the company announced the acquisition of UK-based Betdigital, a supplier of gaming content and platforms. NYX noted that the acquisition of Betdigital, a creator of content and systems for online, mobile, interactive TV and land-based gaming platforms, will provide it with a game development platform and studio that caters to the UK retail and online markets. Betdigital will also provide NYX with the ability to further exploit opportunities for games development and leverage existing NYX studios for game design and art.

Matt Davey, CEO at NYX Gaming Group, said that in Betdigital, the company has identified an asset that will strengthen its reach and underpin the global content strategy of the company. Davey further said that Betdigital in particular allows NYX to strengthen its position in the UK market, providing another unique flavor of regional expertise and omni-channel content that will benefit NYX and OpenBet customers and shareholders immediately and over the long term.

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