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 index rises +0.6% today to start the trading week, though remains down -1.2% over the past month. Year-on-year, the index is up +8.0%.
THE MAIN GAINERS
Tourism Holdings (THL, #48) leads the 48 gainers, soaring +50% following yesterday’s announcement of an unsolicited, conditional, non-binding, indicative takeover proposal. The surge lifts its year-on-year performance to +16%. The Warehouse Group (WHS, #49) adds +2%, though it remains down -20% over the year. Kiwi Property Group (KPG, #23) also gains +2%, trimming its six-month decline to -2% and lifting its year-on-year return to +10%. Contact Energy (CEN, #7) rises +2% and is now flat on a 12-month basis.
Tourism Holdings
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THE MAIN DECLINERS
Among the 37 decliners, Vulcan Steel (VSL, #31) falls -3%, extending its five-day drop to -8% and marking a -14% decline year-on-year. a2 Milk (ATM, #9) slips -2%, down -7% for the month but still up +18% over the past year. Sky Network Television (SKT, #46) also dips -2%, despite a +12% monthly gain and a +17% rise year-on-year. Serko (SKO, #47) loses -2% as well, though it remains up +2% over the past five days; year-on-year, Serko is down -5%.
Vulcan Steel Limited
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.5% | +0.2% | -1.9% | -3.5% | +6.4% |
| NZ Top 10 ETF (TNZ) | -0.7% | +0.2% | -6.0% | -9.1% | +0.9% |
| S/P NZX50 ETF (NZG) | -0.2% | +0.5% | -2.9% | -4.8% | +4.9% |
| NZ Dividend ETF (DIV) | +1.3% | +0.9% | -0.2% | -1.0% | +6.4% |
KEY ANNOUNCEMENTS
Tourism Holdings (THL, #48) has received an unsolicited, conditional, non-binding indicative offer from a consortium led by BGH Capital and the Trouchet family interests to acquire all THL shares at NZ$2.30 per share via a scheme of arrangement or takeover. The offer is subject to due diligence, final debt arrangements, internal approvals, and board recommendation. BGH has disclosed a 19.99% stake in THL through agreements with the Trouchet Shareholders and purchases from ACC, ANZ, and WAM, with agreed escalation and top-up payment clauses. THL has formed a board subcommittee and appointed advisors to assess the proposal, with director Luke Trouchet stepping aside due to his involvement. The board emphasises no action is required from shareholders at this stage and that there is no certainty the proposal will result in a transaction.
Contact Energy (CEN, #7) confirms that its financial results for the year ending 30 June 2025 will be released prior to the market opening on Monday, 18 August 2025.
NZX50 Tourism Sector
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