Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.
WHAT THE NZX 50 INDEX IS DOING
The NZX50 is set to close flat today, falling -1.1% over the past five days. Over the last month, the index is up +6.8%, with a year-on-year gain of +7.7%.
THE MAIN GAINERS
Spark (SPK, #12) leads the 39 gainers, rising +4% today and +13% over the past month, though still down -46% year-on-year. Fletcher Building (FBU, #13) and Tower Limited (TWR, #41) both gain +3%. Fletcher is down -3% over the past week but has climbed +7% in six months and +14% over the year. Tower gains +5% over five days and an impressive +85% year-on-year. Meridian Energy (MEL, #2) also posts a +2% gain, up +6% for the month but down -6% since this time last year.
Spark
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THE MAIN DECLINERS
Among the 36 decliners, Serko (SKO, #46) falls the most, down -4% today and -9% over both the past week and year. F&P Healthcare (FPH, #1) and Mainfreight (MFT, #8) each drop -2%. F&P Healthcare is down -2% for the week but up +8% for the month and +22% year-on-year. Mainfreight has surged +23% over the past month and is up +1% year-on-year. Vulcan Steel (VSL, #27) slips -1%, with a -6% weekly decline and -8% loss over six months, but is still up +2% over the year.
Serko
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.3% | -1.5% | -1.2% | -1.9% | +5.6% |
| NZ Top 10 ETF (TNZ) | +0.2% | -0.9% | -4.3% | -6.6% | +2.6% |
| S/P NZX50 ETF (NZG) | +0.3% | -0.6% | -1.3% | -2.8% | +5.8% |
| NZ Dividend ETF (DIV) | +0.4% | +0.5% | -3.1% | -1.4% | +2.2% |
KEY ANNOUNCEMENTS
Tower Limited (TWR, #41) has reported a strong half-year result to 31 March 2025, with underlying NPAT rising to $61.7m from $36.6m in HY24. Reported profit came in at $49.7m. The result was driven by a lower BAU claims ratio (38.1% vs 49.7%), continued premium growth (GWP up 4% to $297m), and improved cost efficiency (MER down to 30.4%). Tower will pay an 8c interim dividend. Customer numbers grew to 312,000, while one large event—the Dunedin floods—cost $3m. Tower continues to focus on quality risk selection, competitive pricing, and claims performance.
Serko (SKO, #46) reported a +27% rise in total income to $90.5m for the year to 31 March 2025, driven by strong growth in Booking.com for Business and its Australasian operations. The result includes $4.8m from the January acquisition of GetThere. The company posted positive EBITDAFI of $2.8m (up $4.3m), and its pre-acquisition business generated $7.4m in free cash flow. Net loss widened to $22m due to one-off costs and a non-cash impairment. Serko says it is well-positioned for further growth, particularly in North America.
NZX50 Overall
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