Retirement village stocks show signs of life

Retirement village stocks show signs of life
(Image: Getty)
Graham Skellern
Retirement stocks have found a new lease of life and Serko surged on a better-than-expected annual result but the New Zealand sharemarket remained subdued.The S&P/NZX 50 Index closed 5.78 points or 0.05% ahead at 11,951.66 after reaching an intraday low of 11,898.96.There were 52 gainers and 69 decliners on the main board, and on another light trading day 23.86 million shares worth $86.96 million changed hands.Paul Robertshawe, chief investment officer with Octagon Asset Management, said: “We are ramping into the reporting season and...

More Markets

Rain falls, lakes fill, wholesale electricity prices fall
Markets

Rain falls, lakes fill, wholesale electricity prices fall

Meridian Energy said the major hydro lakes are returning to normal levels.

'Prudent steps': Ryman amends covenants and extends debt
Property

'Prudent steps': Ryman amends covenants and extends debt

A $115 million bank facility has been extended nearly two years.

Turners takes a 50% stake in My Auto Shop
Markets

Turners takes a 50% stake in My Auto Shop

The acquisition adds car servicing and repair to its sales and insurance operations.

Avoiding a future of stranded assets
Infrastructure

Avoiding a future of stranded assets

Six green stars for new industrial buildings a rare achievement.