NZX50 rounds out 30% gain in 2019
The benchmark index fell 64.55 points, or 0.6 percent, to 11,491.90 in shortened trading today. Within the index, 27 stock fell, 18 rose, and five were unchanged. Turnover was $56.9 million.
The half-day session to end the year was marked by retirement village operators and aged care providers giving up some of their recent gains. The sector has been buoyed by the $1.5 billion takeover offer for Metlifecare, with some investors shifting to rival stocks now rather than waiting until everyone gets their money.
Metlifecare increased 0.3 percent to $6.83, still shy of the $7 offer price, and was the most traded stock with 2.1 million shares changing hands. Its 90-day average is 275,000.
Ryman Healthcare led the market lower, down 5.1 percent at $16.33 with 250,000 shares traded, almost half its 513,000 average. The country’s biggest listed retirement village operator gained 52.1 percent this year.
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