Retirement stocks jump after $200m govt funding boost

Retirement stocks jump after $200m govt funding boost
More than 1,300 aged care beds have closed this year because of the shortage of registered nurses. (Image: Ryman)
Staff reporters
Shares in retirement village companies jumped after the government announced $200 million in funding to achieve pay parity in the health sector.The move aimed to close the gap in wages between nurses in aged care and those with similar qualifications in hospitals.Arvida Group led the sector, its shares gaining 6 cents, or 5.2%, to $1.21 by mid-afternoon Monday. Oceania Healthcare gained 3c, or 3.8%, to 81c, and Summerset rose 26c, or 2.9%, to $9.31. Ryman Healthcare shares jumped as much as 21c, or 3%, to $7.06, but were trading at $6.88 b...

More Infrastructure

Opening day congestion for untolled Penlink highway – NZTA
Infrastructure

Opening day congestion for untolled Penlink highway – NZTA

The road should be redesigned if the Government chooses not to toll, agency said.

Oliver Lewis 26 Jul 2024
Downtown car park building legal challenge 'resolved'
Infrastructure

Downtown car park building legal challenge 'resolved'

Society challenging the sale to Precinct raised 0.4% of its High Court funding target.

Oliver Lewis 25 Jul 2024
Govt to fight receivers over $30m Tui oil field tax credit
Infrastructure

Govt to fight receivers over $30m Tui oil field tax credit

Crown bid to have liquidators cover decommissioning costs is subject to approval.

Victoria Young 24 Jul 2024
Govt agrees 'in principle' to $10b worth of Northland roading PPPs
Infrastructure

Govt agrees 'in principle' to $10b worth of Northland roading PPPs

The Northland expressway project could be one of the first PPPs out of the gate.

Dileepa Fonseka 23 Jul 2024