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 declines -0.4% today, ending the week down -1%. Over the past month, the index rises +5%, and it’s up +7% year-on-year.
THE MAIN GAINERS
Among the 45 gainers to close the week, Gentrack (GTK, #24) leads with a +5% lift. It’s up +1% for the week, +11% over the month, and +35% year-on-year. Channel Infrastructure (CHI, #33) gains +4%, rising +3% this week, +17% over six months, and +35% year-on-year. Sky Network Television (SKT, #47) adds +2%, climbing +6% this week and +8% over the month, now up +4% from this time last year. Summerset (SUM, #16) also gains +2%, though it remains down -15% over six months but is up +11% year-on-year.
Gentrack
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THE MAIN DECLINERS
Among the 37 decliners, Infratil (IFT, #4) leads losses, falling -3%. Still, it gains +7% over the month and +2% year-on-year. Heartland Group (HGH, #34) drops -2% today and -9% for the week, now down -23% over the year. F&P Healthcare (FPH, #1) also falls -2%, though it gains +8% this month and +27% over the year. Kathmandu Brands (KMD, #50) slips -1%, bringing its year-on-year decline to -27%.
Infratil
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.1% | -0.8% | -4.3% | -1.8% | +4.5% |
| NZ Top 10 ETF (TNZ) | -0.8% | -0.5% | -7.9% | -6.6% | +2.1% |
| S/P NZX50 ETF (NZG) | -0.2% | -0.9% | -5.5% | -2.9% | +5.2% |
| NZ Dividend ETF (DIV) | +1.1% | -0.2% | -5.3% | -2.0% | +1.5% |
KEY ANNOUNCEMENTS
Auckland Airport (AIA, #3) confirms it will implement discounted airline charges from 1 July 2025 for the final two years of its PSE4 pricing period, lowering its targeted return from 8.73% to 7.82%. Average per-passenger discounts will reduce charges to $8.95 for regional, $12.75 for domestic jet, and $38.86 for international travel.
Meridian Energy (MEL, #2) has completed construction of New Zealand’s first large-scale grid battery storage system, with its 100MW/200MWh Ruakākā Battery Energy Storage System (BESS) officially opening today. Located south of Whangārei, the BESS was delivered within its $186m budget and will support load shifting, peak smoothing, and electricity reserves in the North Island. While final commissioning steps remain, attention now turns to the neighbouring $227 million, 130MW Ruakākā Solar Farm, set to begin construction in August 2025. Together, the assets form the Ruakākā Energy Park, part of Meridian’s $3b investment pipeline.
Channel Infrastructure (CHI, #33) refreshes its Capital Allocation Framework, lifting its dividend payout policy to 70–90% of Normalised Free Cash Flow (from 60–70%) and guiding for a FY25 dividend of 12.0–12.5 cps (up from 11.0 cps in FY24). The Board will also explore a potential increase in target leverage, introduce a Dividend Reinvestment Plan from the FY25 interim dividend, and consider a foreign-exempt dual-listing on the ASX if major growth opportunities materialise. FY25 EBITDA guidance of $89–94m is reiterated, with maintenance capex at 8–10% of revenue.
Turners Automotive (TRA, #39) appoints Group CEO Todd Hunter as Executive Director, effective immediately. Hunter, who has led the company since 2016 and been with Turners for nearly 20 years, brings operational expertise and leadership to the Board as a non-independent director. The move supports governance continuity and succession planning.
NZX50 Industrial Sector
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