{"id":178493,"date":"2025-12-11T05:52:07","date_gmt":"2025-12-11T05:52:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/178493\/"},"modified":"2025-12-11T05:52:07","modified_gmt":"2025-12-11T05:52:07","slug":"retirement-stocks-rise-on-quiet-day-for-new-zealand-sharemarket-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/178493\/","title":{"rendered":"Retirement stocks rise on quiet day for New Zealand sharemarket \u2013 Market close"},"content":{"rendered":"
One category that did perform well was retirement stocks, with Ryman Healthcare and Summerset Group both rising.<\/p>\n
\u201cNo particular reason for either of those moves, and listed property stocks are as distant from retirement village stocks. In general they\u2019ve been a little bit weak for the last little while and just feel a little heavy today,\u201d Goodson said.<\/p>\n
Ryman\u2019s share price lifted 2.49% or 7c to $2.88 after 5.9 million shares changed hands on turnover worth $17m.<\/p>\n
While shares in Summerset rose 3.21% or 38c to $12.20 on turnover worth $4.6m.<\/p>\n
Mainfreight also rose, lifting 2.05% or $1.35 to $67.25.<\/p>\n
Vital Healthcare Property Trust traded in high volume with 4.2 million shares changing hands worth $8.6m, although it was flat at close on $2.04.<\/p>\n
Elsewhere Ebos Group continued its slide, dropping 2.22% or 62c to $27.25 after shares worth $14.7m were traded.<\/p>\n
Goodson said that since Ebos\u2019 profit warning several months ago its share price had been \u201cone-way traffic\u201d, particularly for offshore investors from his view.<\/p>\n
Infratil also had a negative day, falling 1.22% or 14c to $11.32.<\/p>\n
In the United States, the Federal Reserve elected to cut interest rates for the third straight time.<\/p>\n
Goodson said the new target range set by the Fed was 3.5% to 3.75%, and viewed it as \u201cslightly dovish\u201d.<\/p>\n
The Fed is also planning to purchase US$40 billion a month in treasuries, or short-term dated securities.<\/p>\n
Goodson said that there had been attention drawn to liquidity conditions getting tight at the short end, with a lot of usage of the repay facility.<\/p>\n
\u201cIf you\u2019re buying back US$40 billion of treasuries, you\u2019ll be paying cash to the banks and the funds who sell them to you. So in effect, you\u2019ll be injecting that liquidity into the system.\u201d<\/p>\n
Goodson also expected the US markets to open weaker at tomorrow\u2019s open after shares in Oracle traded down roughly 12% after hours.<\/p>\n
International news<\/p>\n
Wall Street stocks rose and the dollar retreated on Wednesday (local time) after the Federal Reserve cut interest rates again as it seeks to shore up a vulnerable US labour market.<\/p>\n
The rate cut was expected, but stocks had been under pressure in recent days in part due to speculation that the Fed would combine the interest rate cut with commentary suggesting a pause to further easing in light of still-elevated inflation.<\/p>\n
But market watchers read Fed Chair Jerome Powell\u2019s emphasis on the job market during a press conference as a signal that the Fed could cut interest rates again in 2026.<\/p>\n
Stocks rose throughout the news conference, with the broad-based S&P 500 finishing up 0.7%. The US dollar retreated against the euro and other major currencies.<\/p>\n
\u2013 Additional reporting AFP<\/p>\n
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n