Ryman Healthcare drags NZ shares lower

Mon, 24 May 2021

New Zealand’s benchmark equity index edged lower as one of its 10 biggest stocks, Ryman Healthcare, shed $365 million from its market capitalisation following analyst downgrades.The S&P/NZX 50 Index fell 10.61 points, or 0.1%, to 12,449.00. Within the index, 14 stocks fell, 26 rose and five were unchanged. The retirement village operator fell another 5.3% to $13.15 today, bringing its decline since Friday’s weak result to 8.5%. Investors are worried about Ryman’s mounting debt which rose by $540m to $2.25 billion...

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