Australian childcare services providers jump as govt plans to boost sector subsidies

Mayfield Childcare

03/05/2021 04:32

** Shares of Australian childcare service providers climb on
government measures to increase subsidies for the sector 
    ** Australia outlined measures to increase childcare
subsidies on Sunday, in a pre-budget announcement that pledges
A$1.7 bln ($1.31 bln) to boost female participation in the
workplace  urn:newsml:reuters.com:*:nL4N2MP006
    ** RBC Capital Markets says announced childcare policies
will be a tailwind for the sector and appear to benefit a large
number of households 
    ** Adds that measures, if approved and implemented from
FY23, will potentially drive occupancy benefits to the sector  
   ** G8 Education  GEM.AX  jumps 7% to A$1.07 in best intraday
session since Dec 7, 2020
    ** Mayfield Childcare  MFD.AX  notches best session in
nearly a month, climbs as much as ~8% to A$1.09


($1 = 1.2955 Australian dollars)
 

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))