NZ shares gain as strong Summerset sales buoy retirement stocks

A record quarter for Summerset set the scene. (Image: Summerset)

Tue, 09 Jan 2024

New Zealand shares joined a global rally, with record fourth-quarter sales at Summerset Group buoying fellow retirement village stocks. The S&P/NZX 50 Index rose 108.97 points, or 0.9%, to 11,844.39, snapping a two-day decline. Summer trading on the main board remained relatively quiet, with 16.2 million shares changing hands for a turnover of $64.7m, and 92 stocks gaining and 33 declining. A strong day on Wall Street led by US tech stocks kicked off gains in global markets, with Australian and NZ stocks joining the rally.&nb...

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