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)

Mon, 28 Nov 2022

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...

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