“It’s been a very good performing stock,” Williamson said. “It’s had seven years in a row of positive gains, so it has done well.” The positive sentiment flowed through to fellow retirement village operator Ryman Healthcare, which gained 1.6 per cent to $13.30. “Maybe investors are thinking that if Summerset is doing so well, then Ryman must be doing not too bad as well,” Williamson said.
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Summerset s Ellerslie retirement village in Auckland. The benchmark index was pulled higher by a lift in the biggest stocks on the market. Meridian Energy gained 3.5 per cent to $5.40 while Fisher & Paykel Healthcare rose 1 per cent to $30.30.
Top stock Fisher & Paykel Healthcare closed down 0.5 per cent at $29.98. In contrast, A2 Milk jumped 2.7 per cent to $7.63, its fifth consecutive close above $7 on the back of buyer interest.
LAWRENCE SMITH/Stuff
A mixed performance on Thursday resulted in a last-minute, four-point gain on the NZX. The company said on Wednesday it had received the all clear from the Overseas Investment Commission to take a 75 per cent stake in Southland dairy producer Mataura Valley Milk, a deal which would take effect from the end of this month. Telco Spark rose 2 per cent to $4.91. “It’s viewed as a defensive yield stock, investors are quite interested in that at the moment,” Williamson said.
LAWRENCE SMITH/Stuff The $268.5 million purchase will take effect from the end of July, the company said. Fisher & Paykel Healthcare was down 1.6 per cent at $30.12. Among other blue chips, Meridian Energy was flat at $5.21, Contact Energy was up 2.2 per cent at $8.40, Mainfreight was down 1.9 per cent at $77.32, and Fletcher Building fell 2 per cent at $7.26. “That was a good result for Sydney, it highlights once again the value of some of these important strategic assets” Main said. “Sydney’s a key hub for the Australasian region, so if they did lose that it might mean you get more investor interest in Auckland. Obviously you can’t take over Auckland Airport as such but it’s definitely had a flow-on effect for the last couple of days.”
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Auckland Airport was up 5.4 per cent at $7.61, with $39 million worth of shares traded. The A$22 billion (NZ$23.6 billion) offer for Australia’s biggest airport showed the potential in the sector, Williamson said.
RICKY WILSON/Stuff
A surge in Auckland Airport shares after a takeover offer for Sydney Airport helped boost the sharemarket. “Investors are saying Auckland Airport is undervalued.” The unsolicited offer for Sydney Airport from a group of infrastructure investors was at a significant 42 per cent premium to the shares’ close on Friday. Sydney Airport shares were up 32 per cent on Monday afternoon, at A$7.68. However, the aviation and tourism sectors remain under pressure, with further disruption to the trans-Tasman travel bubble. On Monday afternoon, the Government extended a pause on quarantine-free travel with the Australian states of New South Wales and Queensland due to the number of cases of Covid-19.