NZ sharemarket down 1.9% for the week
Synlait Milk can look forward to a brighter future, Spark hit a nine-year low and the New Zealand sharemarket posted its third successive fall.
After Wall Street was flat, the S&P/NZX 50 Index fell at the opening and traded moderately to close at 12,586.98, down 84.97 points or 0.67%.
The index has lost 1.9% this week after starting 9% ahead for the year to date. There were 57 gainers and 77 decliners on the main board, with 40.09 million shares worth $134.82m changing hands.
Synlait Milk was down 2c or 4.44% to 43c after shareholders ...MORE»
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A tale of two villages – steady SUM and a RYM reckoning
The post-COVID era has been incredibly difficult for many. In the context of NZ equities, perhaps none more so than the retirement village (RV) sector which has been stung by both higher interest rates and a weaker housing market.
By Sam Arcand, Investment Analyst, Mint Asset Management
Ryman Healthcare (NZX:RYM), once the flag-bearer for the listed RV sector in NZ is down ~50% since 31-Mar-20. For comparison, Summerset Holdings (NZX:SUM) is up over ~100%. In terms of our funds, we have fortunately been on the right side of this equation. Our process was instrumental to us making the right stock call.
To set the stage, ...MORE»
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